AmeriQuest Acquires AMTRALEASE In Unanimous Board of Trustee Vote.Business Editors CHERRY HILL Cherry Hill, township (1990 pop. 69,319), Camden co., W central N.J.; name was changed from Delaware township to Cherry Hill in 1961. Largely residential, Cherry Hill has been marked by great development and housing growth, especially since the 1970s. , N.J.--(BUSINESS WIRE)--March 14, 2003 AmeriQuest is pleased to announce that the Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. of AMTRALEASE (American Truck Leasing Network, Inc.), a leading truck rental and leasing association, have unanimously agreed to be acquired by AmeriQuest(R) Transportation and Logistics Resources Corp., a "for-profit company", provides the highest level of service and "Participant" benefits, inclusive of inclusive of prep. Taking into consideration or account; including. technology, group purchasing, national sales and marketing. The company was created for the joint benefit of its participating truck rental and leasing companies and shareholders. Since its founding, AmeriQuest has shown consistent profitability and exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. . "We saw the changes and consolidation coming to our industry. There had to be a way for independent truck leasing and rental companies to compete in an environment where two or three major players would ultimately dominate the marketplace. Independents provide flexibility and tremendous service levels that larger companies cannot match", said Doug Clark, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , AmeriQuest. AmeriQuest has taken the most successful ingredients of several business models and created an entirely new way of doing business for independent truck leasing and rental companies. The new business model was granted a U.S. Patent on February 26, 2002, patent number 6,351,738. For several years, both AmeriQuest and AMTRALEASE operated autonomously, while providing exclusive services, ranging from procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. to National Sales initiatives. Throughout this time, AmeriQuest continued building its service offerings and participant base within the transportation sector, servicing additional industry sectors such as For-Hire Carriers and Private Fleet Operators. AmeriQuest has continued to build its service offerings with its acquisition of FleetXchange, an online transportation information and communication portal, and Corcentric, a highly successful E-Commerce company. "AMTRALEASE served its members well for 23 years, but in a consolidating industry, we saw that the time was right to complete our vision of a unified national transportation and logistics company that would satisfy the needs of our membership, while providing the highest level of resources, national sales opportunities and a competitive edge in our individual market places," said Jerry Kress, Chairman, AMTRALEASE. About AmeriQuest. AmeriQuest(R) Transportation and Logistics Resources Corp. is a privately held, national leader in transportation and logistics services for the fleet management industry. Operating from more than 450 locations and representing the direct purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. of more than 230,000 trucks and several hundred fleets, AmeriQuest, through a patented business process, arranges preferred pricing and fulfillment with leading suppliers, delivering substantial savings to the industry. AmeriQuest is also the exclusive provider of procurement and transportation related services for its strategic partners, such as FoodFleetXchange (in partnership with Food Distributors International, American Wholesale Marketers Association and Food Marketing Institute) and CarrierFleetXchange, and through the knowledge and content portal FleetXchange.com, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . AmeriQuest Premier Partners include CITGO Petroleum Corp., Yale Lift Trucks, Bandag, Inc., Sterling Truck Corp., Continental General Tire The General Tire and Rubber Company is an American manufacturer of tires for motor vehicles. General Tire was founded in 1915 in Akron, Ohio by William F. O'Neil. In 1943 General Tire branched out from its core business by purchasing the Yankee Network and the radio stations , Freightliner Trucks, Morgan Corp., Cummins, GMC GMC See: Guaranteed Mortgage Certificate , Imperial and Fleetguard. Additional information is available at www.ameriquestcorp.com. |
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