Ampace completes acquisition of Bar J Enterprises Inc.KNOXVILLE, Tenn.--(BUSINESS WIRE)--April 21, 1997--Ampace Corp. (NASDAQ/NMS: PACE) today announced it has entered into a purchase agreement to acquire the assets of Bar J Enterprises, Inc., a Calhoun, Ga., carrier that provides dedicated trucking services for Outboard Marine The Outboard Marine Corporation was a maker of boat motors and maintenance supplies, they also owned several lines of boats such as Chris Craft. They are now owned by Bombardier. Corporation and various carpet shippers. Jay Taylor Jay Taylor (born 1976-10-23) is an American football kicker for the Orlando Predators in the Arena Football League. High School Years Taylor attended Hershey High School in Hershey, Pennsylvania and starred in football, soccer, and tennis. , president and C.E.O., Ampace said, "Bar J is an excellent fit in the Ampace Dedicated Services, Inc., (ADS) system. The acquisition helps us expand our carpet niche and adds another key account to our dedicated services business. It also adds to our capacity to serve third party logistics companies." Ampace is actively talking to several other trucking companies in the $4 - $12 million range about coming into what the company terms the "Ampace franchise program." "We have found an efficient acquisition model that helps us quickly determine if a carrier is a good fit for Ampace," Taylor said. Founded in 1987, Bar J's revenues for 1996 came to $4.3 million, operating approximately 30 power units. "The addition of Bar J is especially important in supporting future growth efforts for Ampace Dedicated-Daltona carpet consolidation and truckload operation. We intend to consolidate Bar J and the current carpet operation into a new terminal in nearby Calhoun," Taylor said. "We expect our carpet hauling niche to grow several times its current size in the 1997-98 time period, since we've added Florida and Midwest coverage." In 1996, the ADS carpet hauling operation totaled approximately $2 million in revenue. The Bar J acquisition is the fourth trucking company Ampace, a transportation acquisition-holding company, has made since it commenced operations in February, 1995, with the completion of its initial public offering and simultaneous acquisition of truckload carrier MDX (MultiDimensional EXpressions) A multidimensional query language. MDX uses syntax similar to SQL, but whereas SQL is used to query relational tables, MDX is used to query multidimensional cubes (OLAP databases). See SQL and OLAP. based in Monroe, La. Ampace Corporation is based in Knoxville, Tenn. In addition to MDX and Bar J, it has five other short-haul, dedicated truckload operations, which are part of the Ampace Dedicated Services network. The short-haul operations are based in: Orlando, Fla.; Atlanta; Dalton, Ga.; Asheboro, N.C.; and Cleveland, Ohio. The company's shares trade on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NMS See NetWare Management System. under the symbol PACE. CONTACT: Ampace Corporation Jay Taylor, 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. , 423/691-5799 or Communication Resources, Inc. Molly Remes, public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most counsel, 804/560-4865 |
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