Profile: Quality Distribution Inc (QLTY.OQ)
19 Dec 2013
Quality Distribution, Inc. (QDI) operates a chemical bulk tank truck network in North America through its wholly owned subsidiary, Quality Carriers, Inc. (QCI) is a provider of International Organization for Standardization (intermodal ISO) tank container and depot services in North America through its wholly owned subsidiary, Boasso America Corporation (Boasso), which also includes Greensville Transport Company (Greensville). It operates in three business segments: Chemical Logistics, Energy Logistics and Intermodal. Chemical Logistics consists of the transportation of bulk chemicals primarily through its network of 29 independent affiliates, and equipment rental income. Intermodal consists of Boasso and Greensville’s intermodal ISO tank container transportation and depot services supporting the international movement of bulk liquids. In April 2012, its wholly owned subsidiary, Quality Carriers, Inc., purchased the operating assets of Trojan Vacuum Services (Trojan). On June 1, 2012, it acquired operating assets of Wylie Bice Trucking, LLC (Bice). In June 2012, the Company acquired RM Resources, LLC and Wylie Bice Trucking, LLC. In August 2012, the Company announced that certain of its wholly owned subsidiaries purchased the operating assets of Dunn's Tank Service, Inc. and the operating assets and rights of Nassau Disposal, Inc.
QDI operates an asset-light business model and service customers across North America through its network of 29 independent affiliates, 95 terminals servicing the chemical markets (89 of which are operated by independent affiliates and six, which are Company-operated), nine Company-operated tank depot services terminals serving the intermodal market, and two terminals servicing the energy markets, which are operated by independent affiliates.
The bulk tank truck market in North America includes all products shipped by bulk tank truck carriers and consists mainly of liquid and dry bulk chemicals (including plastics) and bulk dry and liquid food-grade products. The Company primarily coordinates the transport of a range of chemical products, primarily through its independent affiliate network, and provides its customers with logistics and other services. QDI is a carrier for many of the companies engaged in chemical processing, including Arclin, Arkema, Ashland, BASF, Dow, DuPont, ExxonMobil, Georgia-Pacific, Honeywell, PPG Industries, Procter & Gamble, Sunoco and Unilever, and it provides services to the chemical producers with North American operations.
Transportation revenue includes revenue earned from hauling fresh and disposal water for the energy market and hauling oil. Energy Logistics consists primarily of the transportation of fresh water, disposal water and oil for the energy logistics markets, primarily through two independent affiliates.
The Company’s wholly owned subsidiary, Boasso, which also includes Greensville, since November 1, 2011, is a North American provider of intermodal ISO tank container transportation and depot services, with nine terminals located in the eastern half of the United States. In addition to intermodal tank transportation services, Boasso and Greensville provide tank cleaning, heating, testing, maintenance and storage services to customers. Boasso and Greensville provide local and over-the-road trucking primarily within the proximity of the port cities where their depots are located. Boasso also sells equipment that its customers use for portable alternative storage or office space.
Quality Distribution Inc
Suite 200, 4041 Park Oaks Boulev
TAMPA FL 33610