Alberta energy company gets into trucking with acquisition
EDMONTON, Alta. (Nov. 5, 2001) — Edmonton, Alta.-based River Valley Energy Services is getting into the trucking business after it recently agreed to purchase 162,500 common shares from Wald Brothers Trucking of Grimshaw, Alta. and also assume $120,000 of the trucking company’s liability.
Following the completion of the deal, River Valley will sell 50% equity ownership of Wald Brothers to contractor Estabrook Construction in Alberta.
River Valley director Darryl Holloway said in a press release that the deal and the partnership with Estabrook, will provide both companies the opportunity to grow in the transportation industry.
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