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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (11938)	7/30/1998 4:28:00 PM
From: SofaSpud	Respond to of 15196

SERVICE SECTOR / Mullen Transportation purchases Mill Creek interest MULLEN TRANSPORTATION INC. ALDERSYDE, AB, July 30 /CNW/ - Mullen Transportation Inc. (MTI) announced today that it has purchased, in an all cash transaction, a 40% interest in Mill Creek Inc. (Mill Creek) from the shareholders of Mill Creek. Mill Creek, based in Cambridge, Ontario, is one of Canada's leading trucking companies operating approximately 250 Company owned trucks and 550 air ride logistic van type trailers, generating annual revenues in excess of $60 million. Mill Creek, through its subsidiary companies, specializes in the transportation of less-than-truckload (LTL) and truckload general freight to all major centres in the United States, Mexico and Canada, utilizing state- of-the-art computer and satellite technology. Mill Creek is the recipient of several industry and customer service awards including the prestigious 1995 Gold Award of Excellence from the Ontario Ministry of Transportation. As a result of the investment in Mill Creek, MTI and Mill Creek have formed an alliance to jointly market their tracking and logistic services throughout North America, to share facilities and equipment, and to benchmark best practices in all areas of the business. ''We are investing in a company that has a philosophy similar to ours - a commitment to superior customer service and motor carrier safety'', said Murray Mullen, President and Chief Executive Officer of MTI. ''This investment will provide the MTI companies with additional access to markets in eastern Canada and will expand the types of service we can offer to our customers. Mill Creek is one of Canada's premier air ride logistic van carriers.'' Mullen Transportation Inc. is a broad-based transportation holding company that provides management and financial expertise, technology and systems support to its subsidiaries. The Company manages a network of carrier companies and is recognized as one of the largest providers of trucking and logistics services in Canada operating a fleet of over 800 trucks and 1,500 trailers, many of which are highly specialized. Through its subsidiary companies, MTI has operations that cover North America offering a wide range of specialized transportation services. MTI's business is structured into four divisions - Truckload, Oilfield Services, Specialized Services, and Regional L.T.L. - that are differentiated by the type of commodities transported, the kind of equipment utilized, and customer service requirements. The Company is also the single largest transporter of oilfield drilling equipment in Canada. Mullen Transportation Inc. is a publicly traded company listed on the Toronto Stock Exchange under the symbol ''MTL''. -30- For further information: Mr. Murray K. Mullen, President & Chief Executive Officer, or Mr. David E. Olson, Chief Financial Officer, (403) 652-8888, Fax: (403) 652-2362