TransForce oversees promotions as it eyes further acquisitions

Canadian operator TransForce has approved a new corporate structure as it builds on its recent expansion within the North American market. Last month, TransForce announced the acquisition of DHL Express Canada’s domestic business, for a reported $25m. The move follows the purchase of courier firm Dynamex in February.

Now, following a recommendation from Alain Bédard, chairman, president and CEO, the company’s Board of Directors has approved a new corporate structure which includes the appointment of five executive vice-presidents.

Jean-François Dodier, Marc Fox, James P. Houston, Brian Kohut and Rob O’Reilly, will “assist Bédard in dealing with the development and growth strategy of the company”.

“Each of these gentlemen has my strong personal endorsement as they have made solid contributions to the Company over the years. Their proven management skills and commitment are exemplary,” said Bédard

“TransForce has expanded materially within the past few months and this enhanced corporate structure will ensure that all new operations are fully and efficiently integrated and that service to our customers remains the number one priority.

“Their well-earned promotions will allow me to focus more fully on the further expansion of the company, particularly into US markets, so that we can continue to deliver meaningful returns to shareholders,” he concluded.

Earlier this week, Post&Parcel reported that TransForce made a “strong” start to the 2011 calendar year despite rising fuel costs and a perceived weak economy.

Revenue for the quarter ended March 31, 2011, was up 20% year-on-year to $561.3m. Some $70m of this was from Dynamex and Colorado-based heavy logistics specialist Speedy Heavy Hauling Inc., which was acquired back in August 2010.

Absorbing DHL’s Canadian express network is expected to see TransForce revenues swelling by an additional $275m a year.

And, reporting the firm’s latest financial results, TransForce chairman, president and CEO Alain Bédard said there may be more acquisitions ahead, particularly in the “highly fragmented” US market, although most likely not until next year.

He said in the short-term, Transforce would be working to reduce its debt and control its costs as “questions persist concerning a sustained recovery in the economy”.

But, commenting on the purchase of Dynamex and DHL’s Canadian network, Bédard said: “As we gradually achieve all synergies and efficiencies, these new and upcoming acquisitions will further increase shareholder value.”

TransForm reported a “strong” start to the 2011 calendar year despite rising fuel costs and a perceived weak economy.

Revenue for the quarter ended March 31, 2011, was up 20% year-on-year to $561.3m. Some $70m of this was from Dynamex and Colorado-based heavy logistics specialist Speedy Heavy Hauling Inc., which was acquired back in August 2010.

Absorbing DHL’s Canadian express network is expected to see TransForce revenues swelling by an additional $275m a year.

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