Trimac agrees to purchase Ellsworth business

Trimac Transportation has entered into an agreement with Ellsworth Motor Freight Lines Inc for the purchase of substantially all assets and business of Ellsworth. Subject to satisfaction of customary closing conditions, the transaction was expected to close in December 2002.

Headquartered in Tulsa OK, Ellsworth provides transportation services to manufacturers of dry bulk and liquid products and to distributors of cement, sand, asphalt, and related products. Ellsworth operates from 10 terminals in the United States, mainly in the Oklahoma, Arkansas and Kansas markets and employs about 300 people including some 190 company drivers and independent contractors. The assets to be purchased include roughly 500 trailers and 90 tractors. Ellsworth's 2002 revenues will be in the range of $US 20.0 million.

The Ellsworth business will be integrated into Trimac's Petroleum, Dry Bulk, & Mining Services Division, based in Longmont CO.

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