PHOENIX, Aug. 21, 2013 (GLOBE NEWSWIRE) -- PTA Holdings, Inc. (OTC Pink Sheets: PTAH), a multi-faceted transportation group providing a broad array of traditional transportation and management services, announced today that it has entered into negotiations to acquire a Midwest based trailer leasing company specializing in Intermodal transportation.
Leonard Lewensohn, C.E.O. of PTA Holdings stated; "The acquisition of this leasing company will, when completed, provide a continuing supply of trailers for the strategic expansion of our fleet operation. The target company currently owns 100 dry van 53-ft. air ride equipped semi-trailers and is positioned for expansion making it a strategic marketing move for our company. The 'target' has been in the trailer leasing business for many years and a pioneer in many aspects of the industry, having a well-deserved reputation for safety and reliability opening the door to an entirely new business sector for our company in those markets."
Both companies expect to complete the due diligence process and proceed to closing before the end of the 4th quarter 2013.
Timothy Norton, V.P. and Director stated, "We are confident that the result of this future acquisition will strengthen our current trucking operation as it is compatible with our regional operating region and customer orientation as a supplier of equipment. Limiting factors in our own expansion program are directly related to the acquisition of trailers. The experience and reputation of this new target will greatly enhance our ability to do so."
About PTA Holdings, Inc. (OTC Pink Sheets: PTAH) Kingsley Logistics Group, acquired in June of 2012, is a multi-faceted transportation group providing a broad array of traditional transportation and management services to the trucking industry. We offer logistics solutions through our Kingsley Consulting Group. Our highly experienced team of industry trained professionals bring a myriad of competencies beyond pure transportation, including manufacturing, engineering, process management, and software customization, and implementation experience. The focus of the combined companies is to expand the company via a strategic transportation industry roll-up.
Notice on Forward-Looking Statements:
This news release includes forward-looking statements regarding PTA Holdings, Inc. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties. Forward-looking statements speak only as of the date on which they are made and PTA Holdings, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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