U.S. Xpress says it is expanding its “presence and range” of its cross-border capabilities into Mexico by purchasing a 90 percent interest in Xpress Internacional. In the same vein, the Chattanooga, Tenn.-based carrier has partnered with another Mexican-based logistics company, Logisti-K. For more information on the carrier’s acquisition…
U.S. Xpress has announced it is purchasing 90 percent interest in Xpress Internacional in an attempt to “expand its presence and range of U.S./Mexican cross-border services,” says the Chattanooga, Tenn.-based carrier.
The company has also formed a deal with Monterrey, Mexico-based Logisti-K, a cross-border logistics company.
“These deals come as a direct result of growing customer interest in Asia, Europe, North and South America in shipping to and from Mexico, as well as from the desire of shippers to find the most secure and reliable logistics services at reasonable prices,” the company’s announcement says.
U.S. Xpress also recently created a cross-border partnership with Canadian carrier Maritime-Ontario to help expand its North American reach.
U.S. Xpress Enterprises, Inc. a leading provider of transportation services throughout North America, is pleased to announce it has completed an amendment and extension of its credit facilities. The combined $385.0 million new structure is comprised of a $190.0 million Term Loan B, $155.0 million Accounts Receivable Securitization, and a $40 million Revolving Line of Credit. The refinancing increases total available capacity and extends the Company’s debt maturity schedule, with the revolver and securitization maturing in 2015 and the extended Term Loan B maturing in 2016.
SunTrust Robinson Humphrey, Inc. acted as Sole Lead Arranger and Sole Book Manager for the transaction. SunTrust Bank is administrative agent under the new Term Loan B and revolving line of credit. SunTrust Robinson Humphrey, Inc. is administrator for the securitization facility.
About U.S. Xpress Enterprises, Inc.
Founded in 1985, U.S. Xpress Enterprises is the nation’s second largest privately owned truckload carrier, providing a wide variety of transportation solutions throughout North America. We are committed to being at the forefront of safety compliance, using comprehensive training for our staff and drivers and ensuring our trucks feature the latest safety innovations. With a dedication to minimizing our impact on the environment, U.S. Xpress is a SmartWay Transport Partner and was honored with a 2009 SmartWay Environmental Excellence Award. U.S. Xpress Enterprises affiliates include Arnold Transportation Services, Smith Transport, Total Transportation of Mississippi, Xpress Global Systems and Xpress Internacional….
Originally posted 2012-12-07 13:23:00. Republished by Blog Post Promoter