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Transportation Company - Transcon Inc. - Trucking
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Company NameTranscon Inc.
CategoryTrucking
Year Founded1946
Final Year of Operation1994
TerminationReorganized
Successor/ParentUS 1 Industries, Inc. (Details)
CountryUnited States (Details)
Source of TextReference for Business
Text Credit URLLink



Company History: 1946:Transcon Lines is formed as a Los Angeles– area carrier.
1968:New York Stock Exchange listing is obtained.
1990:Transcon declares bankruptcy.
1994:Name is changed to US 1 Industries, Inc.; company relocates to Indiana.
Successor/Parent History:
In September 1993 a group of Indiana investors acquired a controlling interest in what was left of Transcon and three of them assumed day-to-day control of the business. They included CEO Michael E. Kibler, former president of Enterprise Truck Lines, Inc.; treasurer James C. Day, the controller of K & A, Inc., a support services company for Transcon and other trucking companies; and controller Richard Courtney, the former controller of Eastern Refrigerated Express, Inc. Transcon’s administrative offices were moved from California to Gary, Indiana. In December 1993 Transcon shareholders agreed to reincorporate the business in Indiana under the US 1 Industries, Inc., name, changes that were completed in the early months of 1994.
With a new management team in place under a new name in a new state, the company took steps in late 1994 to rebuild the business, almost from scratch, with employee drivers and leased vehicles. In January 1995 US 1 entered the less-than-truckload refrigerated truck transportation sector through the acquisition of Landair Services, Inc., but this move did not pan out. Management came to realize that its most valuable asset was not its trucks or terminals but its system, the way it was able to efficiently secure permits, bill for services, and collect payments. Thus, in 1996 US 1 began to focus on building up a roster of independent agents to which it could essentially outsource the terminal operations and actual hauling.
US 1 posted revenues of $15.4 million in 1996 and realized a $300,000 profit. Late in the year, the company formed a pair of Houston subsidiaries, Gulf Line Transportation and Gulf Line Brokerage, followed in 1997 by the creation of two Charleston, South Carolina-based subsidiaries: Carolina National Logistics and Carolina National Transportation. While revenues improved to $25.4 million in 1997, the expense of opening these new units led to a loss of $200,000 for the year. The success of Carolina National Transport was a key factor in US 1 enjoying steady growth through the rest of the 1990s, as the company sought to pay off debt and sustain profitable operations. Revenues reached $32.3 million in 1999 and net income topped $400,000.
Our mission is simple. We aim to help business owners achieve their dreams of building a successful company where they earn more and sacrifice less. You may not have the resources at your finger tips to take your business to the top, and that's where US 1 Industries comes in. When you need reliable backing from a responsible company that specializes in all aspects of logistics and trucking, let us give you wings so you can soar.
Brief History:
The U.S. is a country of 50 states covering a vast swath of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean. Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC. Midwestern metropolis Chicago is known for influential architecture and on the west coast, Los Angeles' Hollywood is famed for filmmaking.

Item Links: We found: 1 different collections associated with Transcon Inc. - Trucking
Item created by: CMK on 2020-03-01 07:26:20. Last edited by Lethe on 2020-05-07 00:00:00

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