IFCR. PRESS RELEASE Integrated Freight Acquires P
Post# of 1873
Posted On: 02/03/2016 12:11:33 PM
IFCR. PRESS RELEASE
Integrated Freight Acquires Philadelphia Operation
Published: Feb 3, 2016 11:18 a.m. ET
Feb 03, 2016 (ACCESSWIRE via COMTEX) -- Expands Northeast Corridor Niche Carrier Strategy
DANBURY, CT / ACCESSWIRE / February 3, 2016 / Integrated Freight Corporation (otc pink:IFCR) today announced that it has acquired the stock of SC Trucking, Inc. in a transaction utilizing Integrated's stock and cash.
"Effective February 1st, we have acquired SC Trucking based in Philadelphia, PA," stated David N. Fuselier, CEO of Integrated Freight Corporation. "SCT is a provider of local and long haul trucking dedicated to the recycling and scrap metals commodities market hauling both ferrous and non-ferrous metals. As an Integrated Freight operation, it expands our penetration further into the Northeast Corridor and enhances our Hartford, CT operations. Similar to our other niche operations, SCT is dedicated primarily to transporting the region's scrap metal commodities. Although we anticipate that the recycled metals market will continue to decline in the foreseeable future, we are confident that SCT's growing market share will be rewarded with the recovery of this commodity market."
Hank Hoffman, President and COO of Integrated Freight, said, "SCT has historically generated over $1,000,000 in revenues and has recently become a dedicated recycling provider to one of the largest retail chains in America. We';re pleased to bring this acquisition on line as we build out the Northeast."
SCT has operated in Philadelphia for over five years and is based in Clifton Heights, PA.
Integrated Freight's management noted that, with the SCT acquisition, run rate revenues will exceed $25,000,000 and be EBITDLA positive.
Integrated Freight Acquires Philadelphia Operation
Published: Feb 3, 2016 11:18 a.m. ET
Feb 03, 2016 (ACCESSWIRE via COMTEX) -- Expands Northeast Corridor Niche Carrier Strategy
DANBURY, CT / ACCESSWIRE / February 3, 2016 / Integrated Freight Corporation (otc pink:IFCR) today announced that it has acquired the stock of SC Trucking, Inc. in a transaction utilizing Integrated's stock and cash.
"Effective February 1st, we have acquired SC Trucking based in Philadelphia, PA," stated David N. Fuselier, CEO of Integrated Freight Corporation. "SCT is a provider of local and long haul trucking dedicated to the recycling and scrap metals commodities market hauling both ferrous and non-ferrous metals. As an Integrated Freight operation, it expands our penetration further into the Northeast Corridor and enhances our Hartford, CT operations. Similar to our other niche operations, SCT is dedicated primarily to transporting the region's scrap metal commodities. Although we anticipate that the recycled metals market will continue to decline in the foreseeable future, we are confident that SCT's growing market share will be rewarded with the recovery of this commodity market."
Hank Hoffman, President and COO of Integrated Freight, said, "SCT has historically generated over $1,000,000 in revenues and has recently become a dedicated recycling provider to one of the largest retail chains in America. We';re pleased to bring this acquisition on line as we build out the Northeast."
SCT has operated in Philadelphia for over five years and is based in Clifton Heights, PA.
Integrated Freight's management noted that, with the SCT acquisition, run rate revenues will exceed $25,000,000 and be EBITDLA positive.
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