Pacer Closes Sale Of Assets To Universal Truckload

CONCORD, Calif. (AP) ¿ Logistics and transportation company Pacer International Inc. said Thursday that it closed the sale of certain assets from its specialized heavy-haul trucking operation to subsidiaries of Universal Truckload Services Inc.

Under the agreement, Universal Truckload subsidiaries assumed the property and equipment leases for tractors and trailers used in the operation-as well as various customer, agent and other contracts for about $2 million.

Pacer retained the rights to all receivables generated by the trucking operation through the closing date.

In midday trading, Pacer shares fell 10 cents, or 2.5 percent, to $3.86, while Universal Truckload shares dropped 5 cents to $17.40.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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