TransForce Income Fund Sells Non-Core Operations of Services Matrec

October 3, 2006 10:40 AM, EDT

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anadian transportation firm TransForce Income Fund on Tuesday sold the hazardous waste and industrial cleaning operations of Services Matrec, its waste management subsidiary, to Newalta Income Fund for C$31.8 million.

The sale will allow Matrec to focus on its core business of solid waste management and recycling, TransForce said in a statement.

The operations sold to Newalta generated about C$20 million in annual revenue, TransForce said.

TransForce Income Fund is ranked No. 22 on the Transport Topics 100 list of the largest for-hire carriers in the United States and Canada.