Key Developments For Pacer International, Inc.
Pacer International, Inc. (PACR.O) (Nasdaq)
Pacer International, Inc. Closes Sale Of Specialized, Heavy-Haul Trucking Operation To Subsidiaries Of Universal Truckload Services, Inc.
Pacer International, Inc. announced that it has closed the previously announced sale of certain assets of its specialized heavy-haul trucking operation to subsidiaries of Universal Truckload Services, Inc. (UTSI) on August 17, 2009. In connection with the transaction, subsidiaries of UTSI assumed the real property leases and equipment leases for tractors and trailers used in the operation as well as various customer, agent and other contracts for a purchase price of approximately $2.0 million. Pacer retained the rights to all receivables generated by this trucking operation through the closing date. As a intermodal and trucking services provider in North America, Pacer will continue to provide all its established highway and intermodal services as part of the Company's integrated operations. Pacer plans to use the services of UTSI for seamless heavy-haul highway transport when appropriate.
Pacer International, Inc. Comments On H2 2009 Earnings Outlook
Pacer International, Inc. announced that for second half of 2009, it expects returning to positive earnings. According to Reuters Estimates, analysts were expecting the Company to report earnings per share (EPS) of $0.01 for third quarter of 2009 and EPS of $0.13 for fourth quarter of 2009.
Pacer International, Inc. Enters Agreement to Sell Assets Of Its Specialized, Heavy-Haul Trucking Operation
Pacer International, Inc. announced that it has entered into an agreement with Universal Truckload Services, Inc. and UTS Leasing, Inc. (collectively, UTSI) to sell certain assets. These assets include customer, contractor and agent lists, and owned trailers of Pacer Transport, its specialized heavy-haul trucking operation. In connection with its purchase of these assets, UTSI will also assume, subject to receipt of appropriate consents, two real property leases and equipment leases for tractors and trailers used in the operation. The closing is expected to occur in August. Pacer will retain rights to all receivables generated by this trucking operation through the closing date.
Pacer International, Inc. Comments on H2 2009 Earnings Outlook
Pacer International, Inc. announced that for the second half of 2009, it anticipates returning to positive earnings.
Pacer International, Inc. Deploying Clean Truck Equipment In Southern California
Pacer International, Inc. announced that its subsidiaries, Pacer Cartage, Inc., Harbor Rail Transport, and PDS Trucking, Inc., a subsidiary of Pacer Distribution Services, Inc., will deploy 230 new clean trucks for use in their Southern California operations beginning in late November 2008.
