Xpress Global Systems Finalizes Asset Acquisition of Pinner Transportation, Inc.
CHATTANOOGA, Tenn., May 30 /PRNewswire/ -- U.S. Xpress Enterprises, Inc., the nation's third-largest privately-owned truckload carrier, announced today that its Xpress Global Systems subsidiary has finalized the asset purchase of Pinner Transportation, Inc.'s business. Based primarily in the Southeast and Southwest, Pinner is a regional carrier that specializes in floor covering logistics and less-than-truckload service.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080421/CLM110LOGO ) "Xpress Global Systems is one of the most successful floor covering logistics providers in the transportation industry, and we believe the addition of Pinner Transportation will further strengthen our scope of service. Pinner's experience in the flooring industry and its LTL group are a perfect complement to the existing Xpress Global service network," said Patrick Quinn, U.S. Xpress Enterprises Co-Chairman.
As part of the asset purchase, the Pinner facilities in Midland, Tex., Louisville, Ky., Albuquerque, NM, Tampa, Orlando and Jacksonville will become part of the Xpress Global Systems network. "We have great respect for what Pinner has accomplished during its many years of operation. We look forward to partnering with Pinner associates and their customers to develop greater opportunities for future growth and profitability," said Max Fuller, Co-Chairman of U.S. Xpress. "The management team at Xpress Global Systems is very excited about welcoming Pinner associates and their customers to our company. We believe this is a win-win opportunity, and we are currently working with the Pinner management team to make this a seamless transition for all involved," said John Bowes, President of Xpress Global Systems.
About U.S. Xpress: U.S. Xpress Enterprises, Inc. is the nation's third-largest, privately-owned truckload carrier, with a fleet of 7,500 tractors and 22,000 trailers. U.S. Xpress Enterprises, Inc. provides dedicated, regional, and expedited team truckload services throughout North America, with regional capabilities in the West, Midwest, and Southeastern United States. The Company is one of the largest providers of expedited and time-definite services in the truckload industry and is a leader in providing expedited intermodal rail services. Xpress Global Systems, Inc., a wholly owned subsidiary, is a provider of transportation, warehousing, and distribution services to the floor covering industry. The Company participates in logistics services through its joint ownership of Transplace, an Internet-based global transportation logistics company. Additionally, U.S. Xpress has an 90% ownership interest in Arnold Transportation Services, Inc., which provides regional, dedicated, and medium length-of-haul services with a fleet of approximately 1,650 trucks, and Total Transportation of Mississippi and affiliated companies, a truckload carrier that provides medium length of haul and dedicated dry-van service with a fleet of approximately 650 trucks primarily in the Eastern United States. Additionally, U.S. Xpress has an ownership interest in Abilene Motor Express, Inc., a truckload carrier that provides medium length of haul and dedicated dry van truck services, primarily in the eastern United States with a fleet of approximately 170 trucks and C&C Transportation of Duncan SC, a truckload carrier providing transportation services along the Mid-Atlantic, Northeast and Southeast corridor with a fleet of 150 trucks. First Call Analyst: Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20080421/CLM110LOGO CONTACT: Greg Thompson, U.S. Xpress, +1-423-510-3203, Web site: http://www.usxpress.com/
2008-05-30 16:49:14 0374031 PRNEWSWIRE
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