The BC Bearing Group to Acquire Transmission Supplies (Southern Alberta) Ltd.
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Burnaby, B.C. BC Bearing Engineers Limited and Transmission Supplies (Southern Alberta) Ltd. of Lethbridge, Alberta, announce the signing of an Interim Agreement whereby BC Bearing will acquire the assets and operations of Transmission Supplies. The transaction is scheduled to close on January 31, 2007.
"It's all about people, focus and a service attitude - and we have a lot in common. By combining our strengths in this region, we look forward to growing value for customers throughout the area," noted Wendy McDonald, Chairman of The BC Bearing Group.
"We are focused on serving our customers with the most competent people in the industry and the acquisition of TSL fits perfectly into our Alberta growth strategy. We are excited about this opportunity as TSL's solid goodwill has been built over many years with its customers, employees, vendors and the communities throughout southern Alberta," emphasized Dermot Strong, President and COO of The BC Bearing Group.
Terry Tillsley, President of TSL, said, "I am quite happy with this move. Consolidation in the industry is both necessary and inevitable and I am confident that our employees will be well taken care of and that our customers will continue to be afforded the same high level of service which TSL has always provided."
The BC Bearing Group, established in 1944, is an industrial distributor of bearings, power transmission components and fluid power with consolidated sales in excess of $220 million. Serving customers through 55 locations in Canada, the United States, Chile and Peru, its alliance with Canadian Bearings of Mississauga, Ontario also creates coast-to-coast customer service throughout Canada.
For more information, please contact:
Dermot Strong
President and Chief Operating Officer
The BC Bearing Group
Telephone: 604-433-6711
email: dstrong@bearings.com
