|
|
Article: U.S. Xpress Enterprises Acquires Minority Interest in Smith Transport, Inc.
- Article from:
- Science Letter
- Article date:
- October 14, 2008
CopyrightCOPYRIGHT 2008 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
U.S. Xpress Enterprises, Inc. and Smith Transport, Inc. jointly announced that the companies have completed a transaction in which U.S. Xpress Enterprises will acquire a 47% interest in Smith Transport, Inc. and its affiliated companies (see also U.S. Xpress Enterprises, Inc.).
The Smith management team, led by President Barry Smith, will remain in place and will initially control a majority 53% interest in Smith. Smith will operate independently from U.S. Xpress utilizing Smith's current facilities. Barry Smith will continue to wholly own and independently operate his warehouse operations.
Smith is a truckload carrier that provides medium length of haul ...