CSX is to buy Quality Carriers, the largest provider of bulk liquid chemicals truck transportation in North America, for an undisclosed sum to create a unique multimodal chemicals transport provider that will expand the reach of both CSX and Quality Carriers.
Quality Carriers has been bought from Quality Distribution.
In business since 1913, Quality Carriers operates the most extensive bulk tank trucking fleet in North America, with around 2,500 drivers. Through a network of over 100 company-owned and affiliate terminals and facilities in key locations throughout the US, Canada and Mexico, Quality Carriers provides transport services to many of the leading chemical producers and shippers in North America.
James M. Foote, president and CEO of CSX said: “Our new partnership will provide chemical producers and shippers with a first-of-its-kind multimodal solution that capitalizes on the powerful synergies between Quality Carriers’ truck transportation fleet and our cost-advantaged rail network. We believe that this new capability will create meaningful long-term value for our company.”
Quality Carriers’ management team, led by president Randy Strutz, will continue to lead the business as part of CSX. He said: “Together, we will be exceptionally positioned to provide our customers – many of which have existing relationships with both CSX and Quality Carriers – with a unique and seamless rail-to-highway offering. We look forward to partnering with CSX and to create a new level of efficiency for bulk chemicals transportation.”
The transaction is expected to close in the third quarter of 2021, subject to regulatory review and certain customary closing conditions.
For more information visit: www.investors.csx.com
Do you have any news articles you would like to submit? Please contact Tracey Sansom: tracey@tankstoragenewsamerica.com
