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Article: Allied Holdings To Acquire Ryder Automotive Carrier Services
- Article from:
- PR Newswire
- Article date:
- May 27, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. 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)
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DECATUR, Ga., May 27 /PRNewswire/ -- Allied Holdings, Inc. (Nasdaq: HAUL) announced today an agreement to acquire Ryder Automotive Carrier Services, Inc. and Ryder Carrier Management Corp. from Ryder System, Inc. (NYSE: R) for approximately $114.5 million in cash.
Ryder Automotive Carrier Services, headquartered in Troy, Michigan, has approximately 3,400 rigs at 91 locations in 34 states and Canada. Its employees number approximately 6,000, and its sales in 1996 were approximately $600 million. The combined revenue of Allied's and Ryder's automotive carrier divisions for 1996 would have been approximately $1 billion.
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