PHILLIPS BUYS ALL OF PILOT AIR FREIGHT’S STOCK
Pilot Air Freight, a transportation and logistics provider with 65 offices in North America, announced on Monday that Richard G. Phillips, Pilot Air Freight’s chairman, president and chief executive officer, has acquired all of the remaining outstanding stock in the privately-held company.
Phillips, chairman of Pilot Air Freight since 1994, had owned 50 percent of the company, which had sales of $217 million in 2002.