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 Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Port of Long Beach Announces Executive Appointments

The Long Beach Board of Harbor Commissioners recently filled key Harbor Department executive posts with staff veterans as the Department continues to undergo a

Ocean Installer Enters Australian O&G Market

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

Maritime Security

Chief of Naval Personnel Visits Naval Special Warfare

Chief of Naval Personnel (CNP) Vice Adm. Bill Moran visited Naval Special Warfare (NSW) Sailors during an all hands call on Joint Expeditionary Base Little Creek-Fort Story, Oct.

EUCAP Nestor Train 30 Somali Coast Guards

On 21 October, the European Union’s Maritime Capacity Building Mission in the Horn of Africa and Western Indian Ocean (EUCAP Nestor) celebrated the successful completion of a two month Mentoring,

US Navy Christens Future USS Detroit

The U.S. Navy christened the future USS Detroit (LCS 7), the fourth Littoral Combat Ship of the Freedom variant, in a ceremony at Marinette Marine Shipyard in Marinette, Wisconsin, Oct.

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1829 sec (5 req/sec)