CSX railroad buys chemical trucking business
May 12, 2021
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JACKSONVILLE, Fla. (AP) CSX railroad is buying a trucking company that specializes in hauling liquid chemicals.
The Jacksonville, Florida-based railroad said Wednesday that it had agreed to buy Quality Carriers Inc. to help it offer chemical makers a combination of rail and trucking services. Terms of the deal were not disclosed.
CSX said Quality Carriers has a network of more than 100 terminals in Mexico, Canada and the United States that it either owns or is affiliated with. Quality Carriers, which is based in Tampa, Florida, employs roughly 2,500 drivers.
Quality Carriers President Randy Strutz said the two companies already share a number of customers, which will make it easier to offer a combination of rail and trucking services to them. Strutz will continue to run Quality Carriers after the deal.
09:50 AM EST Share “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.
CSX reaches agreement to acquire Quality Carriers
Acquisition to create ‘first-of-its-kind’ chemical shipping solution
0 1,216 1 minute read CSX is set to acquire Quality Carriers by Q3 of 2021. (Photo: Jim Allen/FreightWaves)
CSX Corp. (NASDAQ:CSX) announced Wednesday that it has signed an agreement with Quality Distribution to acquire bulk liquid chemicals transportation provider Quality Carriers Inc. Terms of the agreement were not disclosed.
The Quality Carriers management team will continue to lead the chemical transportation entity as a part of CSX. Randy Strutz, president of Quality Carriers, explained the existing synergies between the two companies will offer better efficiencies for their customers.
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