Quality Distribution Will Sell Bulknet

Apr 11, 2001 12:00 PM

Quality Distribution Inc (QDI) has signed a letter of intent to sell its subsidiary, Bulknet.com, to Mark S Bitting, Bulknet’s president and CEO. Terms were not disclosed. QDI is the parent company of Quality Carriers Inc, Tampa FL.

Bitting leads a small group of investors who will acquire the stock during the second quarter of this year. The move is designed to position Bulknet more favorably as a neutral exchange, servicing and providing unique application services for the chemical transportation and the tank truck industries. Bulknet, Tullytown PA, is an online exchange, as well as a load tendering and scheduling software provider, serving the bulk motor transportation marketplace.

“Bulknet will be positioned to service the tank truck industry better, with new and innovative software, aimed at all the participants neutrally in the chemical bulk transportation market,” Bitting said.

Tom Finkbiner, QDI president and CEO, stated that divesting Bulknet will allow QDI to focus on its core tank truck services to chemical producers while still participating as a member of the Bulknet exchange.

Bulknet plans to unveil several enhancements to the tracking and accounting utilities included with its software that will expand the functionality of exchange and private portal interfaces. The company recently participated in developing Phase 2 of the ChemXML e-standard for Internet data transfer.