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Truckloads of news: first truckload.

Truckloads of News: First Truckload

There's a lot happening in Arkansas trucking.

Look for a 2.5-million share initial public offering later this month by ABC Treadco Inc., a Fort Smith-based truck tire retreader that also sells new truck tire sales.

The underwriter for the IPO is Morgan Stanley & Co. The shares should go on the market at between $14 and $16.

The company does business throughout the South and Southwest. It has been a wholly owned subsidiary of Arkansas Best Corp. The parent will continue to hold 50 percent of the stock.

Tires are a major expense for trucking companies, and retreads can be bought for about half the price of new tires.

Second Truckload

Officials of a young trucking firm say they're exploring taking their company public soon. The equity market looks friendly these days compared with bankers.

We're sworn to secrecy, but we can tell you the firm has been building assets and its client base through acquisitions. And it's not USA Truck Inc., which we whispered about a few months ago.

Third Truckload

Ever notice how "Whispers" seem to come in industry bunches?

Batesville Truck Line Inc. was sold Sept. 1 to the father-son team of Elbert and Mike Mitchell.

Son Mike will wear the president and chief executive officer hats.

No more details were available. The Mitchell boys were on the road somewhere between Little Rock and Batesville when we called.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:Arkansas Business
Date:Sep 16, 1991
Words:236
Previous Article:Sloane update, part II.
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