Entrec Acquires Singer Companies
Canadian carrier Entrec Transportation Services on Monday said it has purchased the Singer Specialized Group of Companies for C$15.3 million in stock and cash, minus the value of long-term debt.
The payment consisted of 3.9 million shares of Entrec stock at C$1.35 per share, with the remainder of the sum paid in cash, Entrec said in a statement.
Singer, based in Calgary, Alberta, specializes in hauling oversized equipment for the oil and gas, petro-chemical, power generation and mining industries.
© 2012, Transport Topics Publishing Group. All rights reserved.