PACER PLANS IPO, REPORTS STRONG 3Q RESULTS

PACER PLANS IPO, REPORTS STRONG 3Q RESULTS    Pacer International Inc., an intermodal freight operator and logistics provider based in Calif., said it will file by year-end a registration statement for an initial public offering of its common stock.
   Details concerning the size and date of the offering have not been determined, Pacer said. Proceeds from the IPO will be used to pay down debt and for other purposes not specifically stated.
   For its third quarter ending Sept. 22, Pacer reported consolidated gross revenue of $308.2 million, up 18.2 percent from last year. Group net revenue, or sales minus the direct cost of transportation, rose 24.4 percent to $66.3 million. Pre-tax income increased a healthy 24.3 percent to $21.5 million.
   Pacer has been expanding aggressively through acquisition. The company recently purchased truck brokerage firm GTS Transportation Services Inc. and international forwarder RFI Group Inc.
   Continuing its expansion, Pacer said it is negotiating to buy logistic provider Rail Van Inc.