Swift Transportation Co. Inc. has completed its acquisition of an additional 51 percent interest in Trans-Mex Inc. S.A. de C.V. giving it 100 percent ownership of the Mexican truckload carrier. The purchase price for this 51 percent interest was $31 million consisting of $11 million in cash and 942,155 shares of Swift common stock. Swift has agreed to file a registration statement with the Securities
Swift Transportation Co. Inc. has completed its acquisition of an additional 51 percent interest in Trans-Mex Inc. S.A. de C.V. giving it 100 percent ownership of the Mexican truckload carrier.
The purchase price for this 51 percent interest was $31 million consisting of $11 million in cash and 942,155 shares of Swift common stock. Swift has agreed to file a registration statement with the Securities and Exchange Commission for these shares within the next 90 days.
Through this acquisition, Swift becomes the only United States trucking company with a 100 percent ownership interest in a Mexican carrier, claim Swift officials.
Jerry Moyes, chairman and chief executive officer, said: "As contemplated in our original agreement in 1990, we have acquired the remaining ownership interest in this carrier. We expect Trans-Mex will continue to grow as we expand with our customers' needs."
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
Waiting for a breakdown is costing you. Learn how smart preventive maintenance plans, accurate data, and cross-team coordination can protect your bottom line and boost profits...
Is your fleet ready for California's Clean Truck Check program? Our guide helps you navigate CARB compliance, avoid costly fines, and keep your trucks rolling. Learn how telematics...
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
