IFCR latest press release, Key TL Holdings Acquires American Transportation & Logistics, has received recognition among the following news outlets and websites:
DANBURY, CT / ACCESSWIRE / APRIL 15, 2014 / Key TL Holdings, Inc. (Key), announced today its acquisition of American Transportation & Logistics (ATL), a regional dry van and reefer carrier based in Windsor Locks, CT.
David N. Fuselier, CEO of Key TL said, "American Transportation & Logistics is an important initial acquisition for Key TL. In addition to its existing base of business, ATL is well-positioned to play a major role in our current logistics network and in the development of our freight lanes in the northeast corridor."
Key TL Holdings is a recently formed entity of Fuselier and Co. According to Mr. Fuselier, "Key was formed for the purpose of acquiring historically sound small to medium-sized truckload carriers. We have a short list of carrier candidates that, like ATL, have a defensible niche base of business and offer a good strategic "fit" with our other trucking and non-trucking operations."
Based in New England, ATL operates primarily in the northeastern United States and has posted solid profitability for years. Its mission is to provide "house carrier" service for shippers of refrigerated and dry food stuffs as well as department store merchandise. Unlike most long-haul carriers, ATL's head haul business is outbound from the Northeast which enables the company to deliver well above average total revenue per mile. ATL has 30 employees utilizing 25 power units and operates from its 10,000 square foot facility near Bradley International Airport.
"ATL is a great addition to our operations," said Fuselier. "Ed Michaels, ATL's former owner, will remain with the company and be an integral part of Key's executive staff and long-term growth plan. He knows how to build a business, develop employees, and identify new acquisition opportunities. We are pleased to have Ed and the rest of the ATL team on board."
David N. Fuselier also is the Chief Executive Officer, and one of the largest shareholders, of national carrier Integrated Freight Corporation (IFCR) and orchestrated one of the industry's more difficult turnarounds last year. That carrier posted its first profitable quarter since inception while increasing its net equity over $10MM.
About Integrated Freight Corporation:
Integrated Freight Corporation (otcqb:IFCR) provides long-haul, regional and local motor freight service throughout the United States. For its customers, the Company 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.
Forward Looking Statements: 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.
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