Under the agreement, Simon will acquire 19 tractors and 60 53-foot temperature-controlled trailers within the next 90 days, subject to delivery of clean title. Simon has agreed to lease those tractors and trailers until completing the purchase and also has agreed to assume the existing leases on 10 additional tractors.
Also, Simon will lease the two terminal facilities and all furniture, fixtures, office and computer equipment and other assets in the terminals for one year. Simon also acquired 70 Qualcomm satellite communications units and other miscellaneous assets.
Simon will have the opportunity to hire Ort Trucking’s approximately 130 company drivers, 50 owner-operators, and office and shop personnel. It is expected that most of Ort Trucking’s operations personnel will remain in New London.
Ort Trucking, an $18-million business, operated approximately 130 company-owned tractors, 50 tractors supplied by owner-operators and a fleet of more than 300 trailers.
