Mullen Transportation Inc. recently announced intentions to provide up to $1 million in capital to Payne Transportation Inc. (PTI), a new trucking company to be based in Winnipeg, Manitoba.
Upon completion of the investment, Mullen will acquire a 45% ownership position in the new company.
PTI will focus on the transborder long-haul segment of the trucking industry, utilizing owner-operated tractor units. The company was founded by Tom Payne, who will remain as President and CEO of the company.