TransForce Income Fund Completes Acquisition of Howard’s Transport Services Inc.
MONTREAL, August 29 , 2006 – TransForce Income Fund (TSX: TIF.UN), the leader in the
Canadian transportation and logistics industry, today announced it has signed an asset purchase
agreement to acquire Howard’s Transport Services Inc, headquartered in Stony Plain, Alberta.
Howard’s Transport Services is a specialized trucking company with a fleet that moves a variety of
heavy oilfield related equipment, including drill rigs. The company’s customers include drilling
companies, oil and gas companies and oilfield service companies. It has operated in western
Canada since 1979 and generates annual revenues of approximately $20 million.
“The acquisition of Howard’s Transport strengthens our capabilities in the heavy-hauling segment of
the energy sector,” said Alain Bédard, Chairman, President and Chief Executive Officer of TransForce
Income Fund. “We are confident our unitholders will benefit from our increased participation in the
vibrant oil and gas exploration business in western Canada.”
Howard Moeller, President of Howard’s Transport, will lead the company for the next year in an
advisory role. Rendel Elock will move from TransForce’s operating subsidiary Canadian Freightways
to be General Manager of Howard’s Transport, and will report to Darshan Kailly, President and CEO
of CF Managing Movement.
The acquisition is subject to customary conditions and approvals, and is expected to close by early