Vitran sells Frontier Transport
Vitran Corporation has sold selected assets of Frontier Transport Corporation to Online Transport, based in Indianapolis, Indiana. According to Vitran president & CEO Rick Gaetz, for the last few years Vitran has focused on its two core segments: LTL and supply chain operations, with Frontier, the small owner-operator truckload operation, taking a back seat. "On-Line Transport purchased 794 trailers, while Vitran retains 174 of the newest trailers to be redeployed in the LTL operation," said Gaetz. "The proceeds and net working capital is approximately $5 million." Steve Cook, current president of Frontier, will continue to lead this new business unit at Online. Quelle: eyefortransport |