* Expects deal to immediately add to earnings upon closing
* Transaction expected to close on Feb. 19
Jan 14 North American transportation company
Vitran Corp Inc VTN.TO VTNC.O said it plans to buy the
less-than-truckload (LTL) business of Milan Express for an
undisclosed amount to expand its presence in southern United
States. Vitran, which has operations across Canada and the
United States, said it expects the deal to immediately add to
its earnings upon closing.
The LTL business of Tennessee-based Milan -- which is a
transportation service company -- operates 34 facilities in
central and southeastern United States and had generated
revenue of $70 million for the year ending Dec. 31.
The Toronto-based trucker, which competes with TransForce
Inc TFI.TO and Mullen Group (MTL.TO), said the deal is
expected to close on Feb. 19.
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by