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UPDATE 1-Vitran to buy US LTL business to expand footprint
January 14, 2011 / 12:39 PM / in 7 years

UPDATE 1-Vitran to buy US LTL business to expand footprint

* Expects deal to immediately add to earnings upon closing

* Transaction expected to close on Feb. 19

Jan 14 (Reuters) - 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 Vyas Mohan)

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