ConGlobal Industries, Inc. (CGI) announced that it has entered into a definitive agreement with ITS Technologies & Logistics, LLC (ITS) whereby the CGI business and assets will be acquired by ITS. This change will take place once the transaction is closed, which is expected to occur on December 31, 2013. The company will continue to operate under the ConGlobal brand and will maintain all its current depot locations. According to a company spokesperson, all parties have carefully engineered the transaction to ensure that ConGlobal customers will not experience any changes in the handling of their accounts, operations, or services they currently receive from ConGlobal.
ITS is a leading provider of rail intermodal terminal services. With 60 locations in the U.S. and two locations in Mexico, ITS handles more than 6 million lifts annually and has approximately 2,000 employees. ITS customers are among North America’s largest railroad and intermodal service providers.
“ConGlobal sees this acquisition as a tremendous opportunity for the company to be aligned with one of North America’s top intermodal suppliers,” said Mike Baldwin, President and CEO of ConGlobal Industries. “CGI and ITS complement each other in network locations and product offerings,” Mr. Baldwin continued. “This acquisition allows ConGlobal to leverage the strengths of both companies to deliver exceptional service and value to our customers and also provide a positive experience for our suppliers and employees.”
“ITS purchased ConGlobal for its leadership position in the intermodal equipment maintenance and repair sector and exceptional customer service,” said Dwight Johnson, President and CEO of ITS. “We are eager to see both companies grow and create synergies and efficiencies as a result of the acquisition for our customers, employees and shareholders.”
About ITS Technologies & Logistics, LLC
ITS Technologies & Logistics, LLC (ITS) is based in Tinley Park, IL, and is one of the leading operators of intermodal facilities in North America, operating at over 60 locations in the U.S. and two in Mexico, and employs over 2,000 people in the U.S. and Mexico. The Company is one of the largest operators of intermodal facilities and handles over six million lifts (or intermodal units) annually. ITS has long-standing customer relationships with all the major North American railroads, and provides complete turnkey services to its customers including lift-on/lift-off of containers, equipment maintenance, checkpoint administration, contract switching, and drayage. ITS also operates several automobile loading/unloading operations through its American Auto Works subsidiary.
ITS web site www.in-termserv.com