Swift Completes Trans-Mex Purchase

Jan. 14, 2004
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."

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!