Definitive agreement. (Ingredients).

TIP Intermodal in·ter·mod·al
adj.
Relating to transportation by more than one means of conveyance, as by truck and rail: intermodal transport. Services, a GE Capital Company headquartered in Devon Devon (dĕv`ən), county (1991 pop. 1,008,300), 2,591 sq mi (6,711 sq km), SW England. The county town is Exeter. Devon is bounded on the N by the Bristol Channel, on the S by the English Channel, and on the W by Cornwall. , PA, and Interpool, Inc., Princeton Princeton, borough (1990 pop. 12,016) and surrounding township (1990 pop. 13,198), Mercer co., W central N.J.; settled late 1600s, borough inc. 1813, township est. 1838. A leading education center, it is the seat of Princeton Univ. , NJ, have announced the signing of a definitive agreement for the acquisition by TIP of approximately 50,000 intermodal trailers and domestic rail containers from Interpool, which includes 40,000 units that Interpool acquired from Transamerica Leasing, Inc. in October, 2000.

The transaction, which is expected to close in the second quarter of 2001, is valued at approximately $345 million and is subject to customary closing conditions.

Martin Tuchman, Chairman and Chief Executive Officer of Interpool, commented, "We are pleased to have entered into this agreement with TIP. It is consistent with our stated strategy of increasing focus on our key chassis Pronounced "chah-see," it is a physical structure that holds everything or that everything is attached to. A computer's cabinet is often called the chassis. and international container business."

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3. Barry DeSantis, President, TIP Intermodal Services, "This acquisition is one more way TIP is demonstrating its commitment to support the growth of intermodal services. The acquisition will create synergies which will improve product and service offerings and drive productivity gains to benefit our customers."

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Title Annotation:	TIP Intermodal Services to acquire trailers and domestic rail containers from Interpool Inc.
Comment:	Definitive agreement. (Ingredients).(TIP Intermodal Services to acquire trailers and domestic rail containers from Interpool Inc.)
Publication:	Frozen Food Digest
Article Type:	Brief Article
Geographic Code:	1USA
Date:	Feb 1, 2001
Words:	167
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