Penske Truck Leasings' Acquisition of Rentway: New Strategies in Trucking and Logistics

Focusing on the "hollowing out" debate: Whether foreign takeovers of Canadian corporations are beneficial to the Canadian economy. The president and chief executive officer of Trimac Corporation, describes the strategic direction in which he is taking the company. Then the company announced a strategic repositioning. The board of directors and management concluded that in order to maximize shareholder value, Trimac had to focus on the profitable growth of its North American bulk trucking and third party logistics business. One of the four major initiatives included the sale of Trimac's wholly-owned truck leasing and rentals subsidiary, Rentway to Penske Truck Leasing for Cdn$105 million.