PHOENIX, July 22, 2013 (GLOBE NEWSWIRE) -- PTA Holdings, Inc. (OTC Pink Sheets:PTAH) (www.ptaholding.com), a multi-faceted transportation group providing a broad array of traditional transportation and management services, announced today that it has entered into an agreed Term Sheet to acquire a Midwest based motor carrier specializing in Intermodal transportation.
Leonard Lewensohn, C.E.O. of PTA Holdings stated, "The acquisition of this carrier as a provider of international and domestic container trucking services for the rail terminals and ports of Chicago and Milwaukee opens new revenue streams. This is a strategic marketing move for our company. The 'target' has been a pioneer in international and domestic container drayage with a well-deserved reputation for safety and reliability opening the door to an entirely new business sector for our company in those markets. Closing is scheduled before the end of the 4th quarter. The target company's annualized revenue is projected at just under $2 million."
Timothy Norton, V.P. and Director stated, "We are confident that the result of this future acquisition will strengthen our current trucking operation as it is compatible with our regional operating region and customer orientation. Integrating with rail and ocean business opens the door to new business opportunities that should be very beneficial to our existing customer base."
About PTA Holdings, Inc. Kingsley Logistics Group, acquired in June of 2012, is a multi-faceted transportation group providing a broad array of traditional transportation and management services to the trucking industry. We offer logistics solutions through our Kingsley Consulting Group. Our highly experienced team of industry trained professionals bring a myriad of competencies beyond pure transportation, including manufacturing, engineering, process management, and software customization, and implementation experience. The focus of the combined companies is to expand the company via a strategic transportation industry roll-up.
Notice on Forward-Looking Statements:
This news release includes forward-looking statements regarding PTA Holdings, Inc. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties. Forward-looking statements speak only as of the date on which they are made and PTA Holdings, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.