United petroleum transports

The acquisition marks a milestone for UPT, furthering its goal to become a top five bulk tank carrier by revenue, the company said in a release, united petroleum transports. We are excited about what we can offer our current and future customers by utilizing both brands from Arizona to Florida.

Florida Rock. Patriot shareholders approved the transaction at a special meeting of shareholders on December 19, UPT and Patriot finalized the transaction today. Florida Rock will retain its operating footprint and continue to operate under its historical brand. Since the initial announcement, Florida Rock's team has effectively collaborated with UPT in planning to enhance operational outcomes with a shared goal of increasing profitability and service to customers. The combination of these companies creates a top ten bulk tank carrier by revenue, with operations stretching from Arizona to Florida and over 1, professional drivers and 30 terminals.

United petroleum transports

Forgot password? Don't have an account? Sign Up! Already have an account? The acquisition of Patriot Transportation Holding, Inc. UPT represents a significant consolidation within the transportation sector, specifically the bulk tank carrier industry. The valuation of this deal warrants attention, as it reflects the current market conditions and the perceived value of Patriot's assets and customer base. From a financial perspective, the acquisition is likely to result in economies of scale, potentially lowering operational costs and increasing profitability. The transaction also suggests an immediate increase in UPT's revenue, positioning it as a top ten bulk tank carrier by revenue. However, it is crucial to monitor the integration process as it can incur significant costs and may present challenges that could affect the expected synergies. For current and potential investors, the key considerations include the impact on UPT's balance sheet, debt levels and the potential for revenue growth. The transition of Patriot from a publicly traded to a privately held entity also removes a market competitor, which could have regulatory implications and affect industry pricing dynamics. The merger between UPT and Patriot, including its subsidiary Florida Rock, signifies a notable shift in the competitive landscape of the bulk tank carrier industry. By retaining the Florida Rock brand, UPT demonstrates a strategic approach to leverage existing brand equity and customer loyalty, which can be advantageous in maintaining market share during the transition period.

Please try again and if the problem persist, Email Us to receive support. The joining united petroleum transports both companies will also result in enhanced services for current and new customers while continuing UPT's motto of "Seamless delivery…every time. Website Link.

We work tirelessly not only to be awarded the opportunity to serve the needs of our customers, but once awarded, immediately begin the process of building and growing mutually beneficial relationships and partnerships in the quest to meet and exceed all expectations. Our approach is always about providing solutions; understanding and knowing the needs of our customers and then executing on our service. We utilize the best technology available in the industry to enhance our offerings and further differentiate ourselves from the competition. UPT is proud to be considered Best in Class amongst peers in a highly competitive industry, and we have been fortunate to receive countless safety awards from customers and industry associations throughout the years. All UPT equipment is built with safety in mind and have the highest standards in the industry. Our equipment is designed for protecting and transporting your specialized products. UPT recruits and employs only experienced, trained professional drivers.

We work tirelessly not only to be awarded the opportunity to serve the needs of our customers, but once awarded, immediately begin the process of building and growing mutually beneficial relationships and partnerships in the quest to meet and exceed all expectations. Our approach is always about providing solutions; understanding and knowing the needs of our customers and then executing on our service. We utilize the best technology available in the industry to enhance our offerings and further differentiate ourselves from the competition. UPT is proud to be considered Best in Class amongst peers in a highly competitive industry, and we have been fortunate to receive countless safety awards from customers and industry associations throughout the years. All UPT equipment is built with safety in mind and have the highest standards in the industry. Our equipment is designed for protecting and transporting your specialized products. UPT recruits and employs only experienced, trained professional drivers.

United petroleum transports

Upon completion of the transaction, the combined company will have over 1, drivers servicing markets from Arizona to Florida covering 11 states with over 30 terminals. The companies have strong market brands and operate with a similar culture focused on safety and quality customer service. UPT will utilize the combined company strength, the high-quality employees and large regional and national customer base to strategically grow the business. Florida Rock serves the southeastern United States as a premier bulk tank carrier specializing in hauling primarily petroleum-related products and other liquid and dry bulk commodities. One of the largest regional tank truck carriers in North America, Florida Rock operates in Florida, Georgia, Alabama, and Tennessee with 17 terminals and six satellite locations. We are pleased to welcome one of the leading bulk and tank trucking providers to UPT's family. Together we will enhance our shared value proposition and invest in exciting growth opportunities providing transportation solutions for new and existing customers. Tom Baker, Patriot's Chairman of the Board said, "We have operated this business for many years, and we appreciate that the quality of the organization is being recognized by UPT. We appreciate the support of our shareholders and believe this transaction rewards them for their unwavering support.

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UPT is proud to be considered Best in Class amongst peers in a highly competitive industry, and we have been fortunate to receive countless safety awards from customers and industry associations throughout the years. Silver The joining of both companies will also result in enhanced services for current and new customers while continuing UPT's motto of "Seamless delivery…every time. The joining of both companies will also result in enhanced services for current and new customers while continuing UPT's motto of "Seamless delivery…every time. News The UPT family in the news Please check your email and follow the instructions in the message to complete the registration process. The merger between UPT and Patriot, including its subsidiary Florida Rock, signifies a notable shift in the competitive landscape of the bulk tank carrier industry. The owner of an Oklahoma barbecue company that landed a sweetheart deal to build restaurants at several state [ Don't have an account? Furthermore, the legal structures of the merger will play a critical role in the integration of the two companies, including the harmonization of employee contracts, customer agreements and operational protocols. Additionally, as the combined entity now holds a more substantial market share, antitrust considerations may come into play. Sector Transportation and Warehousing.

Upon completion of the transaction, the combined company will have more than 1, drivers servicing markets from Arizona to Florida, covering 11 states and more than 30 terminals. Florida Rock transports petroleum and other liquids and dry bulk commodities. It also hauls dry bulk commodities such as cement, lime, and various industrial powder products, water, and liquid chemicals.

Industry Analyst. View the original press release on accesswire. By signing up you agree to our Privacy Policy. Vix But opting out of some of these cookies may have an effect on your browsing experience. A Few of Our Valued Partners. The acquisition process, which concluded with shareholder approval and the subsequent delisting of Patriot from the NASDAQ Global Select Market, indicates a smooth transition from a legal standpoint. However, it is crucial to monitor the integration process as it can incur significant costs and may present challenges that could affect the expected synergies. Rhea-AI Summary. The merger between UPT and Patriot, including its subsidiary Florida Rock, signifies a notable shift in the competitive landscape of the bulk tank carrier industry. Florida Rock transports petroleum and other liquids and dry bulk commodities. There is no user registered with this email. Our Customers. Florida Rock will retain its operating footprint and continue to operate under its historical brand. Forgot Password Please enter your email address An email has been sent to your address with instructions for changing your password.