Entrec Completes Acquisition of Jay Reid Trucking Ltd.
October 25 2011 - 8:00AM
Marketwired
- Entrec Transportation Services Ltd. ("ENTREC")(TSX VENTURE:ENT)
is pleased to announce it has completed the previously announced
acquisition of the business and assets of Jay Reid Trucking Ltd.
("Jay Reid Trucking"). Jay Reid Trucking is based in Bonnyville,
Alberta and specializes in the transportation of over-sized and
overweight equipment within the oil and gas and construction
industries. Jay Reid Trucking's fleet, which consists of 14 trucks
and trailers, including low boys, high boys and winch trucks, will
be integrated into ENTREC's existing Bonnyville division.
The aggregate purchase price paid on closing was $1.47 million
and was paid through a combination of: (i) the issuance of 422,223
common shares of ENTREC issued at a deemed price of $1.35 per
share; and (ii) the remainder in cash.
About ENTREC
ENTREC specializes in the transportation and rigging of
overweight and oversized cargo for the oil and gas, construction,
petrochemical, mining and power generation industries. The common
shares of ENTREC trade on the TSX Venture Exchange under the
trading symbol "ENT".
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Entrec Transportation Services Ltd. Rod Marlin
Chairman & CEO (780) 960-5647 Entrec Transportation Services
Ltd. John M. Stevens President & COO (780) 960-5625 Entrec
Transportation Services Ltd. Jason Vandenberg CFO (780)
960-5630
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