Vitran expanding Indianapolis headquarters, announces 1Q results

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Vitran Express, a freight trucking company serving the Midwest, recently announced that it will expand its Indianapolis headquarters, adding 33 jobs and investing more than $25 million to upgrade its fleet, computers and facility.

The expansion will accommodate growing human resources, finance and administrative operations, and add to the current 130 employees, the company says. The Indiana Economic Development Corp. offered $100,000 in tax credits and up to $78,000 in training grants, while the city offered a property-tax abatement of more than $300,000.

Vitran is a subsidiary of Toronto-based Vitran Corp., which announced today, April 25, that its first-quarter profit was $3.4 million, down from $3.8 million a year ago. Revenue rose to $154.1 million from $115.1 million last year, the company said.

The company’s year is off to a reasonably good start given the challenges of a soft economic environment, said Rick Gaetz, chief executive officer. “Our newly acquired LTL companies are performing on plan, Vitran’s existing and new customers are seeing the value in our interregional sales offerings, and we are pleased with the additional business.”