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EXHIBIT 99.1
Business and Transportation Editors
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Nov. 1, 2000--Pacer International, a
North American freight transportation and logistics provider based in Walnut
Creek, California, has concluded the acquisition of RFI Group Inc., a non-asset-
based logistics business headquartered in New York.
RFI, with revenues of $113 million for the fiscal year ending Dec. 31, 1999,
is a freight-forwarding and customs-brokerage firm that also has ocean
transportation brokerage capabilities.
Pacer's revenues for the 12-month period ending Sept. 30, 2000, exceed $1.4
billion on a pro forma basis, including acquisitions to date.
Terms of the transaction were not disclosed.
Don Orris, Pacer's chairman and chief executive officer, said the acquisition
will -- for the first time -- expand Pacer's menu of freight distribution
services to include international-trade related services.
RFI, which uses a proprietary PC-based forwarding system that is integrated
with the systems of U.S. Customs, maintains offices in the United States and
Europe.
The RFI senior management group intends to remain actively involved in
running the business, Orris said. RFI has approximately 185 employees.
About Pacer -- Pacer International is a leading North American freight
transportation and logistics services provider. It offers a broad range of
intermodal, trucking, warehousing, consolidation, freight-forwarding, customs
brokerage, ocean transportation brokerage, and other logistics services on a
retail basis, all available through a single organization, Pacer Logistics.
Pacer also operates the industry's most extensive double-stack rail system for
the distribution of containerized freight, Pacer Stacktrain, which it markets on
a wholesale basis. Pacer International is headquartered in Walnut Creek,
California.
Certain forward-looking statements -- This press release contains or may
contain forward-looking statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995). These forward-looking statements are
based on the Company's current expectations and are subject to a number of
risks, uncertainties and assumptions. Among the important factors that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements are the Company's leverage; regulatory changes
affecting the industry in which we operate; competitive or technological factors
affecting the Company's markets, operations, products and services; shifts in
market demand and general economic conditions; as well as the other factors
detailed from time to time in the Company's filings with the Securities and
Exchange Commission. In addition, the Company has acquired businesses in the
past and may consider acquiring businesses in the future that provide
complementary services. There can be no assurance that the businesses that the
company has acquired in the past and may acquire in the future can be
successfully integrated. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions or estimates prove incorrect,
actual results may vary materially from
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those described herein as anticipated, believed, expected or intended.
Note: Issued by Potash & Company, Oakland, tel. 510/261-1570.
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CONTACT: Pacer International
Don Orris, 303/694-5730
[email protected]
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