Contrans buys LTL logistics firm

WOODSTOCK, Ont., — Contrans Income Fund, one of Canada’s 10 largest for-hire carriers, has completed the acquisition of LTL specialist Cornerstone Logistics Inc. of Oakville, Ont.

Cornerstone is a third party logistics provider whose customers require various transportation services within North America, including direct service with no transfers or terminals.

The company recently launched its own container service, called Port-to-Door. It offers drayage of full container from port to transfer warehouse, full packaging and handling of product, delivery, and haulage of empty unit back to port.

Cornerstone recorded revenues of approximately $24.3 million in the year ending March 31, 2006.

Contrans will continue to operate Cornerstone as an independent operating unit with its existing management and staff.

“Cornerstone has assembled a remarkable group of transportation professionals offering seamless, efficient transportation solutions to their
customers,” said Stan Dunford, chairman and CEO of Contrans. “Their success is best demonstrated by the tremendous growth they have achieved every year. We look forward to having Cornerstone on our team and sharing in their future successes.”