Roadrunner sells flatbed unit, another step in restructuring
Story by:@ FreightWaves.com
Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced that it has sold its flatbed unit, which operates as D&E Transport based in Clearwater, Minnesota.
The transportation and asset-light logistics service provider said that the sale of the unit for $30 million in cash was part of its ongoing restructuring plan aimed at focusing on core, less capital-intensive offerings like logistics and asset-light less-than-truckload (LTL) services.
“The divestiture of the Flatbed 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 Roadrunner’s CEO Curt Stoelting.
Flatbed fundamentals remain weak as softness in the industrial sector weighs on demand. The Flatbed Outbound Tender Reject Index measures the percentage of flatbed outbound tenders rejected in the last seven days.
Flatbed Outbound Tender Reject Index (USA) – SONAR: FOTRI.USA
The company has made numerous changes to its corporate structure since the beginning of the year in efforts to return to profitability.
Story continues HERE @ freightwaves.com
Source and credits: freightwaves.com /Todd Maiden / iTrucker / Mario Pawlowski