Cargojet & TransForce Renew Air Cargo Services Agreement
Mississauga, ON - March 30, 2016- Cargojet Airways Ltd. ("Cargojet") a wholly-owned subsidiary of Cargojet Inc. (TSX: CJT, CJT:A) and TFI Holdings Inc. a wholly-owned subsidiary of TransForce (TSX:TFI), announced today that they have renewed their existing agreement. The new multi-year contract is for three years with two one year renewal options, to provide air cargo services on Cargojet’s domestic overnight network.
Cargojet will provide time sensitive overnight air cargo transportation for TransForce companies group of companies including Loomis Express; Information Communication Services (ICS) Inc.; and TF Integrated Solutions between fourteen major cities across Canada each business night.
"Cargojet is a very pleased to solidify and continue our long-standing relationship with the TransForce group of companies," said Ajay K. Virmani, President and CEO of Cargojet. "We are looking forward to providing highly reliable air cargo service and to adding-value to TransForce as it continues to grow its business across Canada", he added.
Cargojet is Canada's leading provider of time sensitive overnight air cargo services. Cargojet services 14 major city centers coast to coast each business night. Cargojet operates its network across North America carrying approximately 1,300,000 pounds of cargo each business night. Cargojet has a fleet of 22 aircraft consisting of B767-300ER, B767-200ER, B757-200ER and B727-200AF long range freighter aircraft. For more information please visist www.cargojet.com.
Transforce Inc. is a North American leader in the transportation industry operating across Canada and the United States through its subsidiaries. TransForce creates value for shareholders by identifying strategic acquisitions and managing a growing network of wholly-owned operating subsidiaries. Under the TransForce umbrella companies benefit from financial and operational rescources to build their business and increase their efficiency. TransForce companies service the following segements: Package and Courier; Less-Than-Truckload; Truckload; Logistics. TransForce Inc. is a publicly traded on the Toronto Stock Exchange (TSX:TFI) and the OTCOX marketplace in the U.S. (OTCQX:TFIFF)
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