Mullen invests in new trucking venture
ALDERSYDE, Alta. (June 5, 2000) — Mullen Transportation Inc. said it would provide up to $1 million in capital to Payne Transportation Inc., a new trucking company led by former Tri-Line Expressways executive Tom Payne.
Upon completion of the investment Mullen will acquire a 45%
ownership position in the new company.
Based in Winnipeg, PTI will focus on the transborder long-haul segment of the trucking industry, using owner-operated tractor units.
Mullen Transportation president and CEO Murray Mullen said PayneÕs experience in the industry and MullenÕs need for flexible capacity in its logistics division led to the investment. Mullen also will provide PTI with management consulting and technology services on a negotiated fee-for-service basis.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.