Swift buys large Mexican carrier
Truckload giant Swift Transportation Co. said it became the only U.S. trucking company with a 100-percent ownership interest in a Mexican carrier when it finalized a deal for cross-border truckload carrier Trans-Mex Inc. S.A. Swift purchased the remaining 51-percent interest in the company for $31 million, consisting of $11 million in cash and the rest in Swift stock.
Swift originally invested in Trans-Mex in 2000. “The financial and service performance of Trans-Mex has exceeded our expectations,” Jerry Moyes, chairman and chief executive officer, said in a statement.