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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): March 2, 2000
Allied Holdings, Inc.
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(Exact name of registrant as specified in its charter)
Georgia 0-22276 58-0360550
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
160 Clairemont Avenue, Suite 510, Decatur, Georgia 30030
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(Address of principal executive offices) (Zip Code)
404/370-1100
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
The Total Number of Pages in this Document is 7.
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ITEM 5. Other Events
On March 1, 2000, Allied Holdings, Inc. (the "Company") issued the press
release filed herewith as Exhibit 99.1 in connection with the acquisition by
its subsidiary, Axis Group, Inc. of CT Group, Inc.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibits.
99.1 Press release dated March 1, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ALLIED HOLDINGS, INC.
March 2, 2000 /s/ Daniel H. Popky
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Daniel H. Popky, Senior Vice President and
Chief Financial Officer
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INDEX TO EXHIBITS
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Exhibit Number Description Page
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99.1 Press Release dated March 1, 2000 6
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EXHIBIT 99.1
ALLIED HOLDINGS' SUBSIDIARY, AXIS GROUP, ACQUIRES
LOGISTICS SERVICES COMPANY
DECATUR, GA., MARCH 1, 2000 - ALLIED HOLDINGS, INC. (NYSE: AHI) today announced
that its wholly owned subsidiary, Axis Group, acquired CT Group, Inc., a
Michigan-based holding company which owns CT Services and Cordin Transport.
Terms of the transaction were not disclosed.
The CT Group provides a variety of logistics services to the pre-owned vehicle
market and is best known for its vehicle inspection programs. Through the CT
Services subsidiary, the company provides custom inspection services for:
vehicles returned after lease terms; rental cars returned under manufacturer
programs; and other pre-owned vehicles requiring inspection prior to wholesale
auction. These customized services and proprietary electronic notepad
inspection tools have earned CT Services well-deserved market recognition for
both customer service and value.
Primarily through Cordin Transport, the CT Group also provides transportation
services for inspection customers. The services include: driveaway and
haulaway, rail loading and yard management, as well as both motor and rail
carrier management. Finally, the subsidiaries support their inspection
customers through administrative services such as vehicle titling and insurance
claims processing.
Axis acquired CT Group from Robert and Mark Chambers who owned and operated the
business since the mid-1980s. The Chambers will remain as members of management
of the business in charge of day to day activities.
Commenting on the acquisition, Randall E. West, President and Chief Operating
Officer of Allied Holdings, said, "Bob and Mark Chambers and their associates
have established CT Services as the industry leader in the pre-owned vehicle
inspection arena. We do not expect to change their business, but do hope to
learn from them and then help them grow." West continued, "This acquisition
supports our strategy to build value-added capabilities for the finished
vehicle supply chain. As well, it reinforces our leadership as the most capable
and successful provider of automotive logistics services in the world."
Allied Holdings, Inc. is the parent of several subsidiaries engaged in
providing logistics, distribution and transportation services to the automotive
industry. The services of Allied's subsidiaries span the entire finished
vehicle distribution continuum, and include logistics, car hauling, intramodal
transport, accessorization, and dealer prep. Allied, through its subsidiaries,
is the largest company in North America specializing in the delivery of new and
used vehicles.
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Statements in this press release that are not strictly historical are
"forward-looking" statements. Investors are cautioned that such statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially. Investors are urged to carefully review and consider the
various disclosures made by the Company in this press release and in the
Company's reports filed with the Securities and Exchange Commission.
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