Liquid Transport Expands Business With Mississippi Transport Acquisition
The transaction, subject to due diligence, regulatory approval and other conditions, follows the purchase of assets of Kaw Transport Co. of Kansas City, Mo., in March 1998 (3-30, p. 4).
LTC President Lanny L. Wilhelm said MTI will operate as a subsidiary with its headquarters remaining in Stillwater and terminal facilities in the Twin Cities and Duluth, Minn. All employees, owner-operators and management, including former president and co-owner Chris Ogren, will stay on to run the business, he said.
Kaw’s operations were officially merged into LTC as of Jan. 1.
Together, the two companies will operate 22 terminals and a fleet of almost 700 power units and 1,250 trailers.
"Our goal is to have 1,000 power units and 2,000 trailers," Mr. Wilhelm said in a telephone interview last week. "We want to be in a position to compete with anyone and maintain our small senior staff level."
LTC is headed by chairman Rex Ecoff, whose father, Dave Ecoff, started Ecoff Trucking with a single tractor-trailer in Fortville, Ind., in 1936. Ecoff acquired Liquid Transport Corp in 1959 and has operated under that name since the early 1980s. Mr. Wilhelm joined the company as vice president and general manager in 1982.
The purchase of MTI and Kaw reflects LTC’s strategy of achieving growth by acquiring well-managed carriers with profitable and safe tank truck operations.
For the full story, see the Jan. 4 print edition of Transport Topics. Subscribe today.
