Vitran Corporation Inc., a North American LTL transportation and supply chain firm, today announced that it has closed its purchase of the assets of Milan Express' LTL division ("Milan"), a regional less-than-truckload (LTL) freight carrier with operations in the Central and Southern U.S. The transaction, which was previously disclosed in a January 14, 2011 news announcement, adds 16 terminals in the new markets of Alabama, Georgia, Mississippi, North Carolina and South Carolina. Furthermore, Vitran will operate two more facilities to expand its pre-existing footprint in Chattanooga and Jackson Tennessee.

For the year ended December 31, 2010, Milan had revenues of $70.0 million through its 11 state region. Vitran purchased all the rolling stock and other equipment of Milan. Vitran expects an accretive impact on its FY 2011 diluted earnings as a result of the acquisition.

"We are extremely pleased to welcome both Milan's employees and customers to the Vitran family. We are delighted to introduce the states of Alabama, Georgia, Mississippi, North Carolina and South Carolina as new territory within Vitran's North American LTL freight network. This important acquisition expands our reach as we continue to press forward with our goal of complete LTL coverage throughout both Canada and the United States. As with our other acquisitions, we will begin systematically cross-selling our premium regional, inter-regional and cross-border services to our combined customers in the near future.

We look forward to maintaining the Ross family commitment to the region," stated Vitran President and Chief Executive Officer Rick Gaetz.