Trimac buys Houston-based tank carrier

CALGARY (Dec. 27, 1999) — Trimac Transportation will buy DSI Transports Inc. from United Transport America Inc. for $68.3 million US. The transaction, to be funded by Trimac through internal resources and bank financing, is scheduled to close Jan. 17, Trimac said.

DSI is based in Houston, Tex. It provides transportation services to chemical manufacturers and distributors of liquid chemical, petroleum, and dry bulk products through 34 terminals (including 16 with internal tank cleaning facilities) in the United States, primarily in the Gulf Coast, South Eastern, and Mid-Atlantic States. DSI also delivers into Canada and has an interline agreement with a Mexican carrier.

DSI employs over 1600 people, and operates a fleet of over 900 tractors and 1350 trailers. It had revenues of $156.3 million in 1998 and revenues of $ 9.6 million.