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EXHIBIT 99.1
Pacer International Acquires GTS Transportation Services - BW0184 09-05-00
SEP 05,2000 5:01 PACIFIC 8:01 EASTERN
(BW)(CA-PACER-INTL) Pacer International Acquires GTS Transportation
Services; Known for Hands-on Customer Care, GTS Will Boost Pacer's
Truck-Brokerage and 3rd-Party Logistics Capabilities
Business Editors/Transportation Writers
WALNUT CREEK, Calif.--(BUSINESS WIRE)--Sept. 5, 2000--Pacer
International, a North American freight transportation and logistics
provider based in Walnut Creek, California, has concluded the
acquisition of GTS Transportation Services (GTS), a non-asset-based
logistics and truck-brokerage operation based in nearby Livermore,
California.
Don Orris, Pacer's chairman and chief executive officer, said GTS
manages truckload and less-than-truckload shipments for its customers
in the 48 contiguous states as well as in Canada and Mexico.
GTS reported $87 million in revenues as of Dec. 31, 1999. For the
six months ended June 30, 2000, Pacer reported consolidated gross
revenues of $600 million, up $240 million, or 67 percent, from the
first six months of 1999. Pacer's rapid growth has been driven both
internally and through acquisitions.
"The GTS acquisition will complement several of Pacer's existing
services, including our highway brokerage unit and our third-party
logistics-management operations," said Bob Cross, Pacer's executive
vice president. "GTS brings to the Pacer group a reputation for
intense customer service in arranging and managing truck
transportation, including hands-on traffic support and very detailed
reporting that are valued by today's manufacturers, retailers and
distributors. We believe these capabilities can contribute to Pacer's
continued business growth."
Both Patrick Nolan, GTS president, and Jeff Roths, its vice
president, will continue to serve in their present capacities, said
Cross.
Stated Roths: "By joining the Pacer group, GTS will benefit from
the ability to serve a growing customer base, and from Pacer's
financial strength and systems capabilities, which can help ensure the
future competitiveness of our operation."
GTS has about 81 employees, mostly in Livermore, as well as
several commissioned agents in key U.S. markets.
Pacer International is a leading North American freight
transportation and logistics services provider. It offers a broad
range of intermodal, trucking, warehousing, consolidation 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, and Pacer Stacktrain is headquartered in Oakland,
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California.
Note: Issued by Potash & Company, Oakland
Steve Potash, 510/261-1570
[email protected]
CONTACT: Pacer International,
Bob Cross, 925/979-4400
[email protected]
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: TRANSPORTATION MERGERS/ACQ
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