MIL Completes Purchase of TransAmerica Transportation Services

Monday, December 08, 2003
Matson Integrated Logistics (MIL) announced that it 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 and will ultimately be renamed Matson Integrated Logistics. The unit will 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. As a non-asset based transportation company with over 18,000 carrier partners, TTS shares MIL's business philosophy of providing customers with multimodal transportation services that are not tied to any proprietary rail or truck network. Instead, the emphasis is on high-quality, on-time multimodal freight transportation services at the most competitive price, with shipments moving on the transportation system of the customer's choice. There is no preference to utilize company-owned assets, and there are no geographic service boundaries. The purchase of TTS will further strengthen MIL's presence in the Midwest and substantially expand the company's rapidly growing highway services division. In addition to TTS's management team, the agreement ensures that TTS will continue to be represented by its current roster of over 50 agents located throughout the U.S. "This new business unit will significantly help Matson Integrated Logistics move forward with its goal of leading the industry with comprehensive logistics services," said Robert Papworth, president, MIL. "We are particularly happy that Gary Patena and his brother, Bruce, will remain at the helm of the company they founded in 1989. Their knowledge of TTS's business operations will ensure a seamless transition for customers and a continuation of the high quality service standards established by TTS." The purchase of TTS reflects the continued growth of MIL, which has built up momentum in recent years. In 2002, the company experienced a 60 percent 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, 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.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Maritime Security

CBP, AMO Unveils New Interceptor Vessel

U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO) and SAFE Boat International celebrated the unveiling of AMO’s newest coastal interceptor vessel (CIV) Thursday.

SAFE Boats Delivers First CIV for Air and Marine Operations

SAFE Boats International (SBI), a manufacturer of aluminum boats located in Bremerton, Wash., has completed the first Coastal Interceptor Vessel (CIV) on contract from U.

Aquino: China Breaks South China Sea Deal

Philippine President Benigno Aquino on Thursday accused China of breaking a U.S.-brokered deal between the two nations on the Scarborough Shoal, an uninhabited rocky outcrop in the South China Sea.

 
 
Maritime Contracts Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0983 sec (10 req/sec)