TRAC picks up Core Fleet tire services division

Chassis lessor says acquisition will enable it to control tire quality and cost.

TRAC picks up Core Fleet tire services division

Chassis lessor says acquisition will enable it to control tire quality and cost.

TRAC picks up Core Fleet tire services division

Chassis lessor says acquisition will enable it to control tire quality and cost.

 
The chassis leasing company and chassis pool manager TRAC Intermodal said it has completed acquisition of assets relating to the tire services division of Core Fleet.
    The business will be part of a new subsidiary, TRAC Tire Services LLC, and provide tire wholesale, service, parts distribution and retreading to the intermodal and commercial trucking industries.
    Core Fleet Inc. is a nationwide service provider for commercial fleets. Core began operations in 2008 as Retread America.
    Commencing in early 2019, TRAC Tire Services LLC will operate out of a new 102,000-square foot facility in Florence, Ky, where Core is headquartered, that will accommodate an expanded production facility, warehouse space and administrative offices. The new facility will enable TRAC Tire Services LLC to immediately double its manufacturing capacity.
    This acquisition will enable us to provide improved fleet tire solutions to our customers while controlling their quality and cost, said Jennifer Polli, president and chief executive officer at TRAC Intermodal.
   She added, “The mission of TRAC’s new subsidiary is to supply customers with high quality, comprehensive services, including tire wholesale, parts supply, maintenance and retreading, to meet their commercial fleets’ needs.”

Our business performance in Ocean is still challenged by increased bunker prices not being fully compensated through higher freight rates. However, we continued to see improved results in the third quarter after a very weak start to 2018.
CEVA Logistics reported an $86 million loss in Q3 2018, up from a $22 million loss in Q3 2017, despite revenues rising 4.7 percent to $1.81 billion.
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