Canadian LTL giant expands in Western US
TORONTO — Vitran Corp. — a North American transportation and logistics firm and Canada’s third largest for-hire carrier — has agreed to acquire the assets of Sierra West Express, a Nevada-based, regional LTL carrier with operations in California, Nevada and Arizona.
Terms of the agreement were not disclosed, however, Vitran expects this transaction, subject to Board and customary approvals, to close early in January 2006.
business for both Vitran’s and Sierra West’s customers.
In the latest twelve-month period, Sierra West Express had revenues of $16.0 million, Vitran reports in a press release.
“The acquisition of Sierra West Express would be another critical component in Vitran’s strategy of establishing a unique, regional LTL freight transportation network that covers and serves the entire North American market,” says Vitran President and CEO Rick Gaetz.
He adds that Sierra West marks Vitran’s initial move into the Western U.S., and the company’s plan — similar to the purchase of Chris Truck Line earlier in 2005 — is to expand and enhance Sierra West’s regional operations and subsequently cross-market LTL and logistics services in the West to Vitran’s existing customers.
Gaetz says Vitran will also offer Sierra West’s customers the opportunity to move freight to the growing number of North American regions Vitran presently serves.
“We look forward to working with President Mike Nelson and the Sierra West team,” Gaetz said.
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