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Jul 1, 2004 12:00 PM

Eagle Transport Corp, a petroleum motor carrier on the East Coast, has agreed to buy substantially all of the rolling stock assets of Wendell Transport's gasoline and petroleum hauling business. A letter of intent has been signed by both companies with an expected closing date of July 8, 2004.

Wendell's operations in Chesapeake/Norfolk and Richmond VA; Greensboro, Selma, and Charlotte NC; and Spartanburg SC will be merged into Eagle's existing terminal network. In addition, Eagle will be expanding its market area to include Wendell's Roanoke VA, Catlettsburg KY, and Beckley WV operations.

With the acquisition, Eagle grows to a system of 20 terminals serving the petroleum distribution industry in Delaware, Maryland, Virginia, West Virginia, Kentucky, Tennessee, North and South Carolina, Georgia, and Florida. The fleet will consist of about 380 power units and employ about 680 drivers. Nearly 450,000 loads of petroleum products will be hauled annually.