Pacer And Union Pacific Railroad Enter New Agreement To Service Cross Border Automotive Parts Business
Pacer International, Inc. (Nasdaq: PACR), a leading North American
freight transportation and global logistics services provider, is
pleased to announce that it has entered into a multi-year agreement to
Pacer International, Inc. (Nasdaq: PACR), a leading North American freight transportation and global logistics services provider, is pleased to announce that it has entered into a multi-year agreement to arrange, manage and provide intermodal freight transportation services for both automotive parts and freight-all-kinds shipments between the US, Mexico and Canada for Union Pacific Railroad. Pacer will also act as Union Pacific’s network logistics manager for cross-border shipments and provide rail container and chassis management services for Union Pacific in Mexico. Pacer and Union Pacific recognize cross-border intermodal’s importance to North American manufacturing. Over the next several years, manufacturing capacity and activity are expected to increase in Mexico. Pacer’s industry leading position in cross-border intermodal logistics coupled with its expertise and infrastructure in Mexico provide the platform for continued growth of this important market. “Providing cost effective and reliable transportation solutions, particularly for automotive parts customers, is the goal of this new agreement. Additionally, as part of this agreement, Pacer will pursue automotive parts shipments as a retail provider of door-to-door intermodal services. The close relationship between Pacer and Union Pacific is strengthened by this new agreement. Pacer will also use this opportunity to enhance our on-going development of east-west intermodal business. Pacer is committed to supporting and developing this important market with Union Pacific and our other rail carriers,” said Dan Avramovich, chairman and CEO of Pacer. ABOUT PACER INTERNATIONAL ( http://www.pacer.com) Pacer International, a leading asset-light North American freight transportation and logistics services provider, offers a broad array of services to facilitate the movement of freight from origin to destination through its intermodal and logistics operating segments. The intermodal segment offers container capacity, integrated local transportation services, and door-to-door intermodal shipment management. The logistics segment provides truck brokerage, warehousing and distribution,international freight forwarding, and supply-chain management services. For more information on Pacer International visit http://www.pacer.com.
Shares of Pacer International (Nasdaq:PACR) were gapping up Thursday morning with an open price 14.6% higher than Wednesday's closing price. The stock closed at $4.80 yesterday and opened today's trading at $5.50.