LAVAL, QC, Sept. 2 /CNW Telbec/ - Mercator Transport Group Corporation ("Mercator Transport") (TSX-V: GMT) announces the conclusion of a business leasing-management agreement with the French corporation S.A.S. Trans Orient Services ("Trans Orient").
As a reminder, Mercator Transport announced, on June 23, 2009, the acquisition of Trans Orient, which has been delayed due to filing of an appeal procedure against the French court decision ratifying the transaction. As of this day, the appeal has not yet been heard.
More specifically, this leasing-management agreement will allow Mercator Transport France Inc., wholly owned subsidiary of Mercator Transport, to run the international transport brokerage operations of Trans Orient as lessee-manager of the business.
Under the agreement, Mercator Transport benefits from revenues and assumes costs and expenses of the leased business. Mercator Transport will notably take charge of Trans Orient offices and employees. In return, Mercator Transport is to pay quarterly royalties of 10,000 euros (CAD$15,600) to Trans Orient.
Located in Lyon, France, Trans Orient is a French corporation specialized in international transport brokerage, prioritizing ocean and air transport.
About Mercator Transport
Mercator Transport specializes in transport brokerage, international logistics and distribution. With offices in Montreal (Canada), Las Vegas (USA) and Lyon (France), Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Customer intimacy and commitment differentiates Mercator in its ability to implement customers' requirements.
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For further information: Mr. Patrick Bazinet, Director, Investor relations, (450) 667-8886, investisseur@corpgmt.com
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