Patriot loses business to competitors

Patriot loses business to competitors    Patriot Transportation Holding Inc. said its transportation group has been unsuccessful in renewing certain contracts with significant customers recently.
   For the fiscal year ending Sept. 30, revenue from these customers was $10 million or about 11 percent of its transportation group revenue.
   The Jacksonville, Fla.-based company said customers were lost to competing carriers due to lower pricing. Patriot’s transportation business is conducted through Florida Rock & Tank Lines Inc., which is a Southeastern transportation company concentrating in the hauling by motor carrier of liquid and dry bulk commodities
   “While Florida Rock & Tank Lines Inc. continues to face an intensely competitive environment, management is committed to securing replacement business at rates that produce satisfactory returns for our shareholders,” the company said.