• 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,
    Jan. 4, 2002
    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.

    About the Author

    Sean Kilcarr

    Editor in Chief

    Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

     

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