Trimac Corp. said negotiations between Rentway Ltd., its Canadian-based truck leasing unit, and shareholders of Transervice Lease Corp. and Transervice Logistics of Lake Success, N.Y., have been terminated.
The companies have been discussing a buyout since February 1999.
Transervice provides full-service truck leasing, dedicated contract carriage and contract maintenance services and operates a fleet of more than 11,000 trucks from 80 locations in the United States.
The purchase of Transervice was to have been a platform for significant penetration and growth in the U.S. market, Trimac officials said.
For the full story, see the Jan. 10 print edition of Transport Topics. Subscribe today.
