TFI International Acquires Toronto Tank Lines
Acquisition Strengthens TFI’s Logistics and Specialized Tank Capabilities throughout North America
Montreal, Quebec, February 19, 2019 – TFI International Inc. (TSX: TFII, OTCQX: TFIFF), a North American leader in the transportation and logistics industry, today announced the acquisition of Toronto Tank Lines (“TTL”). Founded in 1993 and based in Hamilton, Ontario, TTL specializes in the transportation and storage of food grade liquids, industrial chemicals, specialty oils and waxes throughout Canada, the United States and Mexico.
TTL operates storage facilities and a fleet of approximately 75 tank trailers and 45 power units, with tank storage operations including 15 insulated and heated tanks, each with a capacity of one million litres and each capable of receiving / delivering cargo from / to marine vessels, railcars and tank trucks. TTL’s one-stop solutions include operating a truck, tank and railcar wash facility. TTL will operate as a standalone business unit within TFI.
“We are delighted to have Toronto Tank Lines join the TFI International group of companies,” stated Alain Bédard, Chairman, President and Chief Executive Officer of TFI International. “TTL’s strategic location in Hamilton Harbour along with its best-in-class transportation, transloading, tank storage and wash rack assets will synergistically fit into our family of tank companies across North America as we seek to accelerate its growth.”