Roadrunner Announces Sale of Stagecoach Cartage and Distribution
April 01 2020 - 4:15PM
Business Wire
Dry Van business unit was part of the company’s
Truckload segment
Roadrunner Transportation Systems, Inc. (“Roadrunner” or the
“company”) (NYSE: RRTS), a leading asset-right transportation and
asset-light logistics service provider, today announced the sale of
a Dry Van business unit, Stagecoach Cartage and Distribution, LLC
(“Stagecoach”) to J.H. Rose Logistics, LLC of Santa Teresa, New
Mexico. Terms of the transaction were not disclosed.
Stagecoach, based in El Paso, Texas provides reliable dry van
over-the-road and local cartage as well as warehousing services to
a broad range of customers in the bulk resin and general freight
markets. The business was part of the company’s Truckload
segment.
“The divestiture of our Stagecoach business unit is another step
forward in our strategy to simplify our portfolio by focusing on
our value-added logistics and asset-light LTL segments,” said Curt
Stoelting, Chief Executive Officer of Roadrunner.
About Roadrunner Transportation Systems, Inc.
Roadrunner Transportation Systems is a leading asset-right
transportation and asset-light logistics provider offering a suite
of services and solutions under the Roadrunner®, Ascent On-Demand®
and Ascent Global Logistics® brands. The Roadrunner brand offers
less-than-truckload and over-the-road truckload services. Ascent
On-Demand offers premium mission critical air and ground logistics
solutions. Ascent Global Logistics offers domestic freight
management, international freight forwarding and customs brokerage.
For more information, please visit Roadrunner’s websites,
www.rrts.com and www.ascentgl.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which relate to future events or performance.
Forward-looking statements include, among others, statements
regarding Roadrunner’s belief that the divestiture of Stagecoach is
another step forward in its strategy to simplify its portfolio by
focusing on its value-added logistics and asset-light LTL. These
statements are often, but not always, made through the use of words
or phrases such as “may,” “will,” “anticipate,” “estimate,” “plan,”
“project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,”
“predict,” “potential,” “opportunity,” and similar words or phrases
or the negatives of these words or phrases. These forward-looking
statements are based on Roadrunner’s current assumptions,
expectations and beliefs and are subject to substantial risks,
estimates, assumptions, uncertainties and changes in circumstances
that may cause Roadrunner’s actual results, performance or
achievements to differ materially from those expressed or implied
in any forward-looking statement. Such factors include, among
others, risks related to the restatement of Roadrunner’s previously
issued financial statements, the remediation of Roadrunner’s
identified material weaknesses in its internal control over
financial reporting, the litigation resulting from the restatement
of Roadrunner’s previously issued financial statements and the
other risk factors contained in Roadrunner’s SEC filings, including
Roadrunner’s Annual Report on Form 10-K for the year ended December
31, 2019. Because the risks, estimates, assumptions and
uncertainties referred to above could cause actual results or
outcomes to differ materially from those expressed in any
forward-looking statements, you should not place undue reliance on
any forward-looking statements. Any forward-looking statement
speaks only as of the date hereof, and, except as required by law,
Roadrunner assumes no obligation and does not intend to update any
forward-looking statement to reflect events or circumstances after
the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20200401005678/en/
Reputation Partners Marilyn Vollrath 414-376-8834
ir@rrts.com
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