Bulk carrier Trimac acquires AIP Logistics

Canadian bulk carrier Trimac Transportation announced Thursday the acquisition of American Industrial Partners (AIP) Logistics.

Ohio-based AIP provides bulk transportation and warehousing services for plastics and chemicals companies out of a 52-acre site in Wapakoneta, Ohio, that includes 450,000 square feet of storage. The location provides indoor rail access for transloading and moving cargoes to CSX’s (NASDAQ: CSX) rail line.

AIP’s revenue is split among trucking (38%) warehousing (42%), and transloading and other services (20%).

Financial terms of the transaction were not provided.

“We are excited about this next step in our U.S. growth,” said Matt Faure, Trimac president and CEO. “The integration with a leading logistics company such as AIP will place Trimac in an excellent position for its continued growth and contribution to business partners and communities in this region.”

AIP was founded by Charles Kantner in 1982. Kantner will remain on board during the transition.

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Source: freightwaves - Bulk carrier Trimac acquires AIP Logistics
Editor: Todd Maiden