CSX completes acquisition of Quality Carriers

CSX Corp. today announced it has completed its previously announced acquisition of Quality Carriers, Inc. ("Quality Carriers"), the leading North American provider of bulk liquid chemicals truck transportation, from Quality Distribution, Inc. Financial terms of the transaction were not disclosed.

Quality Carriers operates over 2,500 trucks and 6,400 trailers that serve many of the largest chemical producers and processors. The addition of Quality Carriers enables CSX to extend the reach of its network and gain access to new products, markets, and regions through a unique and competitive multimodal solution that leverages the reach of truck transportation with the cost-advantage of rail-based services. As such, CSX can now provide more comprehensive transportation services to customers throughout supply chains.

“We are thrilled to welcome the Quality Carriers team to CSX,” said James M. Foote, president and chief executive officer of CSX. “We strive to provide chemical producers and shippers with the most efficient, cost-effective transportation services possible. By combining CSX’s and Quality Carriers’ capabilities, we can deliver an unparalleled multimodal solution that will generate substantial value for our customers.”

“Joining the CSX family strengthens our position as the leading bulk chemical trucking network in North America and provides our customers with an integrated rail-to-highway offering that will revolutionize the chemical transportation industry,” added Randy Strutz, President of Quality Carriers. “CSX is a pioneer in rail-based bulk chemical transportation, and there is tremendous potential in this combination. We look forward to integrating our capabilities and to providing enhanced bulk chemical transportation solutions.”

Goldman Sachs & Co. LLC served as financial advisor and Davis Polk & Wardwell LLP acted as legal advisor to CSX in connection with the transaction.