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CSX Corp announced Wednesday it has signed a definitive agreement to acquire Quality Carriers from Quality Distribution (
CCJ Top 250, No. 34). Terms of the transaction were not disclosed.
Quality Carriers, which operates the largest liquid bulk chemical trucking network in North America, will become a standalone entity within CSX and remain headquartered in Tampa, Florida.
Quality Carriers operates an extensive bulk tank trucking fleet with around 2,500 drivers and more than 100 company-owned and affiliate terminals and facilities throughout the U.S., Canada and Mexico.
The transaction will create a unique multimodal chemicals transportation system that will expand the reach of both CSX and Quality Carriers.
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CSX Corp. (NASDAQ: CSX) announced Wednesday that it has signed an agreement with Quality Distribution to acquire bulk liquid chemicals transportation provider Quality Carriers Inc. Terms of the agreement were not disclosed.
The Quality Carriers management team will continue to lead the chemical transportation entity as a part of CSX. Randy Strutz, president of Quality Carriers, explained the existing synergies between the two companies will offer better efficiencies for their customers. Quality Carriers is excited to become a new and integral part of CSX, which has unparalleled knowledge, experience and presence in the rail-based bulk chemicals transportation space, he said. Together, we will be exceptionally positioned to provide our customers – many of which have existing relationships with both CSX and Quality Carriers – with a unique and seamless rail-to-highway offering. We look forward to partnering with CSX and to create a new level of efficiency for bulk ch
09:50 AM EST Share “We believe that this new capability will create meaningful long-term value for our company,” CSX CEO James Foote says,
CSX Corp. is acquiring a trucking company that transports bulk liquid chemicals.
The Jacksonville-based railroad company said May 12 it is buying Quality Carriers Inc., a century-old business that CSX says is the largest provider of bulk liquid chemicals transportation services in North America.
CSX is buying the business from Quality Distribution Inc., a privately owned company based in Tampa.
Quality Distribution said Quality Carriers will remain headquartered in Tampa as a subsidiary of CSX, with 99% of its workers remaining in place.
CSX reaches agreement to acquire Quality Carriers
Acquisition to create ‘first-of-its-kind’ chemical shipping solution
0 1,216 1 minute read CSX is set to acquire Quality Carriers by Q3 of 2021. (Photo: Jim Allen/FreightWaves)
CSX Corp. (NASDAQ:CSX) announced Wednesday that it has signed an agreement with Quality Distribution to acquire bulk liquid chemicals transportation provider Quality Carriers Inc. Terms of the agreement were not disclosed.
The Quality Carriers management team will continue to lead the chemical transportation entity as a part of CSX. Randy Strutz, president of Quality Carriers, explained the existing synergies between the two companies will offer better efficiencies for their customers.