Press release from CNW Group
CONTRANS GROUP INC. ENTERS THE WASTE COLLECTION MARKET THROUGH THE ACQUISITION OF PROWERX DISPOSAL LTD.
Tuesday, September 21, 2010
CONTRANS GROUP INC. ENTERS THE WASTE COLLECTION MARKET THROUGH THE ACQUISITION OF PROWERX DISPOSAL LTD.08:50 EDT Tuesday, September 21, 2010(TSX: CSS)WOODSTOCK, ON, Sept. 21 /CNW/ - Contrans Group Inc. ("Contrans") is pleased to announce that it has completed the acquisition of ProWerx Disposal Ltd. ("ProWerx"), a waste collection business located in Edmonton, Alberta.ProWerx provides industry-leading industrial, commercial and residential waste collection services for a broad range of customers in Edmonton and surrounding area. ProWerx operates fifteen collection vehicles and utilizes approximately 1,500 collection bins of various sizes and configurations."Contrans has long been known for providing specialized transportation services - either through specialized equipment or service offerings to our customers" stated Stan Dunford, Chief Executive Officer of Contrans. "As a result, our growth has been focused on businesses with sustainable and recession proof margins. ProWerx is a business that has produced significant organic growth in the market over the last four years, and is positioned to continue to grow. In addition, ProWerx complements our existing waste business.""We have identified waste collection as a business segment with strong margins and sustainable cash flows, two factors which Contrans and its shareholders have always valued. We believe the entry into this market will open the door for greater future potential and it is our intention to continue to pursue opportunities in this segment."For further information: Stan G. Dunford, Chairman and Chief Executive Officer, or Gregory W. Rumble, President and Chief Operating Officer, Phone: 519-421-4600, E-mail: email@example.com, Web site: www.contrans.ca