Cabano Kingsway Acquires Transport Lebon Inc.SAINT-LAURENT, Quebec--(BUSINESS WIRE)--Feb. 25, 1998--CABANO KINGSWAY (ME:KBN KBN Khwaja Bande Nawaz (Muslim holy shrine in India) KBN Klaatu Barada Nikto (gaming clan) .) Cabano Kingsway Inc., a Canadian transport industry leader, announces that it has reached an agreement in principle concerning the acquisition of the shares of Transport Lebon Inc. of Jonquiere, which specializes in bulk merchandise transport. Cabano Kingsway plans to continue, under the same name, Transport Lebon Inc. operations, which are carried out mainly in Quebec, Ontario and the northeastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ; it will also maintain all current jobs. Mr. Junior Roy, of Transport Lebon Inc., will continue to manage the new Cabano Kingsway subsidiary. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the terms of the agreement, Transport Lebon Inc. remains an independent entity and will be considered a subsidiary of Cabano Kingsway. When finalized, the transaction will allow Cabano Kingsway to increase its annual revenue from the transport of bulk merchandise by approximately $2.5 million. It is also adding 24 tractor- trailers and tankers to its existing fleet consisting of over 110 units. "This acquisition fully supports our strategy to play a key role in bulk merchandise transport in eastern North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . We foresee annual bulk merchandise transport revenue approaching $10 million by the end of 1998," says Alain Bedard, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Cabano Kingsway. Cabano Kingsway and its subsidiaries play a major role in the markets of eastern Canada Eastern Canada (also the Eastern provinces) is the region of Canada generally considered to be east of Manitoba, consisting of the following provinces:
The common shares of Cabano Kingsway Inc. are traded on the Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg (KBN). EDITOR'S NOTE: There is an "at" symbol following "montreal" in the e-mail address below. This symbol may not appear properly in some systems. CONTACT: Opsis Communication & Marketing Inc. Jean-Louis Dufresne, 514/393-8998 montreal@opsis.ca or Cabano Kingsway Alain Bedard, 514/332-4341 |
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