Groendyke Transport Purchases James Inc
Feb 24, 2001 12:00 PM, Modern Bulk Transporter staff
Groendyke Transport Inc, Enid OK, announces the purchase of James Inc, a liquid bulk and flatbed carrier in Kansas. The private stock purchase will make James Inc a wholly-owned subsidiary Of Groendyke Transport.
James, Inc. operates four principal terminal facilities: Colorado Springs & Denver CO and Phillipsburg and Scott City KS, as well as multiple satellite operations. The James Inc fleet consists of 41 tractors, 33 flatbeds, 13 vans and 74 bulk trailers. Annual revenues of the Phillipsburg-based company were nearly $7 million in 2000.
Groendyke Transport is one of the nation's largest providers of bulk transportation services. In 2000, the Enid company's revenues were $122 million, primarily hauling chemicals, asphalt and motor fuels nationwide.
Groendyke Chairman of the Board, John D. Groendyke, stated that "this acquisition will strengthen Groendyke Transport's presence in the western Kansas and Colorado markets, and the management and employees of James Inc joining us will contribute substantially to our overall operation in those areas."
The Colorado operations of both companies will be combined in the near future while the Kansas terminals will continue to operate as stand-alone facilities. All sectors of the James Inc business will continue to operate, including brokerage and flatbed.