Printer Friendly
The Free Library
14,610,896 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

US Trucking, Inc. Completes Asset Purchase of Mid-Cal Express from Prime Companies, Inc.


CHARLESTON, S.C.--(BUSINESS WIRE)--May 10, 1999--

US Trucking, Inc. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
 BB:USTK USTK Underground Storage Tank (usually seen as UST) ) announced today that it has completed the purchase of assets of Mid-Cal Express from Prime Companies, Inc. (OTC BB:PRMC PRMC Peninsula Regional Medical Center (Salisbury, Maryland)
PRMC Prime Companies, Inc (stock symbol)
PRMC Protocol Review and Monitoring Committee
PRMC Pratt Regional Medical Center
) of San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation).

The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] 
 for approximately 400,000 shares of stock valued at $1,900,000.00.

Mid-Cal Express located in Grand Terrace, California Grand Terrace is a city in San Bernardino County, California, United States. The population was 11,626 at the 2000 census. Grand Terrace is strategically located between the cities of Riverside and San Bernardino along the I-215 corridor. , specialized in long-haul transport of fresh produce.

Management stated that the transaction added 60 tractors and 136 refrigerated re·frig·er·ate  
tr.v. re·frig·er·at·ed, re·frig·er·at·ing, re·frig·er·ates
1. To cool or chill (a substance).

2. To preserve (food) by chilling.
 trailers to the Company's existing truckload operations under its subsidiary, Gulf Northern Transport, Inc., and will contribute approximately $8.4 million in annual revenues.

Dan L. Pixler, President & 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.  of US Trucking, Inc. said, "The acquisition of a West Coast, long-haul operation has been planned for some time. The purchase of Mid-Cal Express' assets and operations was an important step in our growth strategy of making opportunistic acquisitions outside of our core East Coast operating region. These types of acquisitions contribute substantially to profitability while expanding our operating territory. Therefore while we continue to seek out these special opportunities, we are maintaining our focus on acquisitions in our core region that can improve our operating efficiencies and capitalize on synergies that exist in other operating divisions."

US Trucking, Inc. is a fully-reporting public company headquartered in Charleston, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures


Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15.
. US Trucking, Inc. operates as a holding company for transportation-related companies including Gulf Northern Transport, Inc., a truckload carrier, and Mencor, Inc., a freight brokerage company.

Statements in this news release that relate to future plans, financial results or projects, events or performance are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public the Company's progress, business opportunities, and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Where management believes such representations to be true and accurate based on information available to the Company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. These risks and those factors that may cause actual results to differ are set forth in the Company's Form 10-KSB filed with the U.S. Securities and Exchange Commission.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:May 10, 1999
Words:386
Previous Article:Kewill Systems Appoints New Chief Operating Officer for US Electronic Commerce Division.
Next Article:TrendWatch: Today's Trends and Implications for the Future of the Business Marketplace.



Related Articles
Country Wide Transport Services Inc. makes announcement.
Buying a business can be tricky; here's a few ways to avoid trouble.(Column)
Prime Companies Inc. Signs Letter Of Intent To Sell Assets Of Trucking Subsidiary To U.S. Trucking, Inc.
Acquisition of Prostar Inc. Adds $7 Million to US Trucking Revenues.
Prime Companies, Inc. Announces Mid-Cal Express has Filed for Chapter VII Bankruptcy Protection.
CITY HALTS PURCHASE OF TRASH TRUCKS.(NEWS)
Orders issued under Bank Holding Company Act. (Legal Developments).
Veteran L.A. Valet company divides territories in sale. (Up Front).
$58m in financing inked for mid-market hotels.(FINANCE)
Sherman Oaks Hospital plans are outlined.(Report: Valley's Health Care Leaders)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles