Vitran Corporation Inc. Completes the Divestiture of Supply Chain Operation
TORONTO, March 4, 2013 (GLOBE NEWSWIRE) -- Vitran Corporation Inc.
(Nasdaq:VTNC) (TSX:VTN), a North American transportation firm, today announced
that it has closed the previously announced divestiture of its Supply Chain
Operation division to Legacy Supply Chain for U.S. $97.0 million in cash.
Vitran has used a portion of the proceeds from this transaction to fully
reduce its outstanding debt under its senior revolving credit facility.
About Vitran Corporation Inc.
Vitran Corporation Inc. is a North American group of transportation companies
offering less-than-truckload services. To find out more about Vitran
Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), visit the website at www.vitran.com.
The Vitran Corporation logo is available at
This press release contains forward-looking statements within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. Forward-looking statements may be
generally identifiable by use of the words "believe", "anticipate", "intend",
"estimate", "expect", "project", "may", "plans", "continue", "will", "focus
should" "endeavor" or the negative of these words or other variations on these
words or comparable terminology.These forward-looking statements, are based
on current expectations and are naturally subject to uncertainty and changes
in circumstances that may cause actual results to differ materially from those
expressed or implied by such forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause Vitran's actual results, performance or
achievements to differ materially from those projected in the forward-looking
statements.Factors that may cause such differences include, but are not
limited to, technological change, increases in fuel costs, regulatory changes,
the general health of the economy, seasonal fluctuations, unanticipated
changes in railroad capacities, exposure to credit risks, changes in labour
relations and competitive factors.More detailed information about these and
other factors is included in the annual MD&A on Form 10K under the heading
"General Risks and Uncertainties."Many of these factors are beyond the
Company's control; therefore, future events may varysubstantially from what
the Company currently foresees. You should not place undue reliance on such
forward-looking statements.Vitran Corporation Inc. does not assume the
obligation to revise or update these forward-looking statements after the date
of this document or to revise them to reflect the occurrence of future
unanticipated events, except as may be required under applicable securities
CONTACT: Richard Gaetz, President/CEO
Fayaz Suleman, VP Finance/CFO
Vitran Corporation Inc.
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