Vitran Enters Into Interline Partnership to Serve the West Coast of the United States
June 06 2013 - 5:15PM
Vitran Corporation Inc. (Nasdaq:VTNC) (TSX:VTN), a North American
transportation firm, today announced it has entered into an
interline arrangement with a prominent West Coast carrier to
service its customers to the states of California, Arizona and
Nevada and similarly with a second carrier to service the state of
Colorado. Vitran will continue to focus on regional business within
its core geographic footprint, a contiguous area stretching from
the central Great Plains to the East coast, where the company
maintains 85% of its current density. Vitran will reposition its
assets and resources into its core markets, which will allow for
improved service to current and new customers.
Vitran Express U.S. President Chris Keylon stated, "We are
extremely pleased to be able to continue to provide service to our
customers to the West Coast of the United States. Our customers can
expect to receive consistent, reliable service to points in
California, Nevada, Arizona and Colorado."
"This partnership will allow our management team to focus on
service, productivity and growth in our principal regions in the
U.S. The change from direct to interline service, effective
August 5, 2013, will result in the closure of seven terminals and
have a positive annual financial impact of approximately $3.0
million," concluded Mr. Keylon.
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.
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 vary substantially 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 laws.
CONTACT: William Deluce, Interim President/CEO
Fayaz Suleman, VP Finance/CFO
Vitran Corporation Inc.
416/596-7664
Vitran (NASDAQ:VTNC)
Historical Stock Chart
From Oct 2024 to Nov 2024
Vitran (NASDAQ:VTNC)
Historical Stock Chart
From Nov 2023 to Nov 2024