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Integrated Freight's Run Rate Revenues to Increase 19%
Jun 02, 2015 11:12:00 (ET)
Integrated Freight's Run Rate Revenues to Increase 19%
DANBURY, CT--(Marketwired - Jun 2, 2015) - 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 short term acquisition plans.
David N. Fuselier, CEO of Integrated Freight, stated, "In accordance with our company's strategic business development plan, management has committed to acquiring defensible niche carriers nationally. To that end, we intend to begin acquiring niche carriers beginning in the next few weeks. The first acquisition, of American Transportation, will be effective July 1, 2015."
Last year, in an announced private transaction, management of Integrated acquired American Transportation and Logistics in Hartford, CT while Integrated Freight resolved its remaining restructuring woes. American 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.
Secondly, Integrated Freight has executed a Letter of Intent to acquire a $6,500,000 niche carrier based in the Midwest. The carrier is a dominant niche carrier in its segment and has operated successfully for nearly 30 years. The company is operated by 10 office and maintenance employees dispatching all company-owned equipment totaling 48 tractors and 105 trailers and 45 drivers. It has always delivered positive EBITDA results. Integrated management is pursuing various financing alternatives to acquire the carrier and, subject to the conclusion of its financing, Integrated will close this acquisition in its second quarter.
Lastly, Integrated's acquisition of a niche scrap waste hauler in the Mid-Atlantic region has been placed on hold until the metals and plastics markets return to acceptable risk levels.
Fuselier continued, "Much like our current subsidiaries, these acquisitions operate in defensible niche markets and increase our total revenues, initially, 19%. With the proposed follow on acquisition our revenues will increase to $31,000,000, or approximately 35%."
"Having customer service personnel and drivers who clearly understand their customers' requirements is the hallmark of the business we are building," said Hank Hoffman, IFCR President. "Both of our planned acquisitions have long histories of delivering customized services for their clients -- on time, every time. That commitment to service will help us build long-term 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
David Fuselier
CEO
Integrated Freight Corporation
(203) 628-7142
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June 02, 2015 11:12 ET (15:12 GMT)
