MATSON INTEGRATED LOGISTICS ACQUISITION COMPLETED
CONCORD - 01/05/04 - Matson Integrated Logistics (MIL) has completed the asset purchase of TransAmerica Transportation Services, Inc. (TTS), a third party logistics company based in Akron, Ohio.
The new MIL business unit will operate initially under the name TransAmerica Transportation Services LLC, but will ultimately be renamed Matson Integrated Logistics and retain virtually all of TTS's current management team.
Specializing in truck brokerage services throughout North America, TTS currently moves over 50,000 shipments annually, generating revenues of approximately $45 million during the latest twelve month period. The company offers various brokerage services, including truckload, less-than-truckload, expedited services, and intermodal.
Financial details of the acquisition were not disclosed.
According to a MIL spokesman, the purchase of TTS will further strengthen MIL's presence in the US Midwest and substantially expand the company's rapidly growing highway services division.
"In addition to TTS's management team," he said, "the agreement ensures that TTS will continue to be represented by its current roster of over 50 agents located throughout the US."
In 2002, the MIL experienced a 60% increase in revenue and substantive growth in volume. In 2003, the company was ranked the Number One intermodal marketing company (IMC) in Logistics Management magazine's "Quest for Quality" award competition, outscoring a group of strong competitors in all service areas of the IMC category.
It was the third consecutive year that the company has been honored with this award and the second time it has been ranked the number one IMC.
TTS has no connection to or affiliation with Transamerica Corporation, which is headquartered in San Francisco.
MIL provides multimodal transportation services to the North American market including domestic intermodal rail service, international intermodal service, long haul and regional highway services, specialized hauling, and international airfreight.
The company is a subsidiary of the San Francisco-based Matson Navigation Company Inc., which, in turn, is a wholly owned subsidiary of Alexander & Baldwin Inc. of Honolulu.
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