“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.
Terms of the deal were not disclosed.
CSX CEO James Foote said in a news release the acquisition provides chemical companies with multimodal shipping options.
“We believe that this new capability will create meaningful long-term value for our company,” he said.
“The acquisition of Quality Carriers further demonstrates our commitment to the strategic growth of our business and deepening our relationships with customers.”
CSX said Quality Carriers has more than 100 terminals and facilities in the U.S., Canada and Mexico and about 2,500 drivers.
The company expects to close the transaction in the third quarter this year.
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