Integrated Freight Acquires Key TL Holdings, Parent of American Transportation and Logistics
Acquisition to Increase Revenues Nearly 19%
DANBURY, CT -- (Marketwired) -- 07/30/15 -- Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, announced its acquisition of American Transportation and Logistics' parent, Key TL Holdings.
David N. Fuselier, CEO of Integrated Freight, stated, "Our Company's strategic business development plan requires management to acquire defensible niche carriers nationally.
To that end, effective July 1, 2015, we have acquired the parent company of American Transportation and Logistics based in Hartford, Connecticut."
The acquisition is no surprise to stakeholders. Last year, management of Integrated acquired American Transportation and Logistics while Integrated Freight concluded its restructuring. American Transportation has a long history of operations throughout the Northeast and has consistently generated revenues of $4,500,000 to $4,700,000 utilizing its 25 employees, 21 tractors and 90 trailers. American Transportation has always delivered positive EBITDA results. Key TL Holdings will change its name to Integrated Freight Northeast and will functionally operate as its Northeast division.
"American Transportation and Logistics has built a portfolio of loyal shippers in the northeast United States based on solid customer service practices and a great understanding of its customers' unique needs and requirements. This is how to build a defensible niche business," said Hank Hoffman, IFCR president. "Our subsidiaries are niche businesses with long histories of delivering customized services to their clients -- on time, every time. And service is how we will build value at IFCR."
About Integrated Freight Corporation
Integrated Freight Corporation (OTC PINK: IFCR) provides long-haul, regional and local motor freight service. For its customers, Integrated provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight companies that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.
Contact:
Hank Hoffman
President and COO
Integrated Freight Corporation
(417) 434-1782
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