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Rail News: Intermodal
Hub Group Inc. recently reached an agreement under which subsidiary Comtrak Logistics Inc. will acquire DNJ Transportation Inc.’s assets for $12.1 million.
An intermodal trucking company, DNJ Transportation provides international freight drayage services and operates four terminals in Illinois and Indiana.
Per the agreement’s terms, the Hub Group will pay $9.6 million in cash at closing, which is expected to occur in early October, and later provide an earn-out payment not to exceed $2.5 million. In addition, DNJ Vice President Joe Tovo III will join Comtrak Logistics as manager of international drayage.
“DNJ’s international intermodal business will provide us with immediate growth in this key market [and] the acquisition is consistent with our strategic plan to increase the amount of drayage we perform,” said Hub Group Chief Executive Officer David Yeager in a prepared statement.
Hub Group provides intermodal, truck brokerage and logistics services in the United States, Canada and Mexico.
9/13/2007
Rail News: Intermodal
Hub Group's Comtrak Logistics to acquire intermodal trucking firm's assets
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Hub Group Inc. recently reached an agreement under which subsidiary Comtrak Logistics Inc. will acquire DNJ Transportation Inc.’s assets for $12.1 million.
An intermodal trucking company, DNJ Transportation provides international freight drayage services and operates four terminals in Illinois and Indiana.
Per the agreement’s terms, the Hub Group will pay $9.6 million in cash at closing, which is expected to occur in early October, and later provide an earn-out payment not to exceed $2.5 million. In addition, DNJ Vice President Joe Tovo III will join Comtrak Logistics as manager of international drayage.
“DNJ’s international intermodal business will provide us with immediate growth in this key market [and] the acquisition is consistent with our strategic plan to increase the amount of drayage we perform,” said Hub Group Chief Executive Officer David Yeager in a prepared statement.
Hub Group provides intermodal, truck brokerage and logistics services in the United States, Canada and Mexico.
