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DISTRIBUTION TECHNOLOGIES DIVESTS DEDICATED TRANSPORT
Carrier Now Operating as a Separate, Independently Owned Company
Newbury, Ohio -- December 15, 2004 -- Distribution Technologies
Inc. (DistTech), an established industry leader in dedicated and
common carriage and logistics services for liquid bulk commodities,
has announced the divestiture of Cleveland-based Dedicated Transport.
Following a management-led buyout of the company from DistTech,
Dedicated Transport LLC will now operate as a separate, independent
company that will continue to focus on providing dedicated contract
carriage and logistics services to manufacturers, distributors
and retailers. The transition is effective immediately.
"Originally founded as Manfredi Motor Transit in the 1930s,
DistTech has its roots in providing quality liquid bulk transportation
to the chemical and food industries," explained Richard Manfredi,
CEO of DistTech. "By divesting Dedicated Transport, we believe
we can increase our concentration on these core competencies and
create even more value for our customers and employees as well
as achieve meaningful growth." |