Canadian carrier cuts out non-core business
Vitran Corp., a Toronto -based transportation and logistics firm, has sold off its ETL environmental recycling business to Metro Waste Paper Recovery, Inc. Financial terms of the all-cash transaction were not disclosed.
Richard D. McGraw, Vitran's president & CEO, said the sale of ETL will allow the carrier to focus resources on its main business, providing premium freight and distribution services, including less-than-truckload, truckload, intermodal and logistics, throughout the United States and Canada.
"This is a mutually beneficial agreement for both parties, since Vitran realized cash for a non-core asset, and ETL provides Metro Waste with a good foundation for future growth," he added.
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