Vitran to sell US LTL business

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TORONTO, Ont. -- Vitran announced today that it will sell its US LTL business, and will now focus on strengthening its Canadian operations.

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[Nawk]

Vitran bought Pjax for 135 million (I think) a few years back in an attempt to open up the US. This obviously went horribly wrong. They sold this to Matty for so cheap just so they could get out. For them to close the US and keep the Canadian operation open it would have cost them 20 million in buy outs, packages etc.

Time will tell if they can recover.

 

[Shakey]

Canadian arm very strong and they will, they had to do this, Matty I'm sure purchased it right as well bet they will have the liabilities into and shell company and put it into bankruptcy. The one thing Rick would not due has been done cost him what he built!