
Landtran Systems Inc. announces the sale of wholly owned subsidiary, Byers Transportation System Inc.
Edmonton, AB - October 5/06
Landtran Systems Inc. has entered into a definitive
agreement to sell its complete interest in Byers Transportation System Inc. to
Transforce Holdings Inc.
The regional LTL business has been a mainstay of Landtran and the Assman family since
we first began our LTL operation Northern Interior Fastfrate Ltd (NIF) in 1979. In
looking at the future, however, we believe that the capital investment required to
maintain and upgrade our infrastructure relative to Byers was too large a scope for
Landtran given the tremendous opportunities that we are currently experiencing with
our other business units. The realization has come to us that we cannot do it all.
Therefore in reviewing the various alternatives and potentials for taking Landtran
forward it is firmly believed that this repositioning and reallocation of capital
expenditures is the best scenario for both the Landtran employees, and the Landtran
shareholders.
Transforce has a solid reputation in the transportation sector for both leaving it’s
operations alone to maintain their individual strengths, and for having tremendous
access to capital in order to maintain and improve operations. We are confident that
the employees of Byers, and the complete business unit itself will be well cared for
and will enjoy a long relationship with Transforce.
Everyone at Landtran will truly miss the many individuals who make up the Byers team.
In the last sixteen years it has been a tremendous honour to have worked with so many
competent and devoted people. We are confident that Byers will enjoy many successes in
the future and will continue to be a dominant force in regional LTL transportation.
As for Landtran, we are all very excited about increasing our market penetration in the
four business units that we continue to enjoy. To say it is business as usual is an
understatement as we are of the firm belief that we have incredible places yet to go.
We intend to capitalize on the strength of the Western Canadian economy and we are
now able to do so with a more level playing field in the capital sphere. Our opportunities are truly unlimited.
Yours truly,
John K. Assman
President
Landtran Systems Inc.
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