Regional parcel delivery carriers OnTrac and LaserShip formally announced late Friday plans to rebrand into what may presumably be the more familiar and easier-to-pronounce “OnTrac” name.
Separately, the rebranded firm, which had been known as LaserShip-OnTrac, finalized plans to enter the Texas market with service to Austin, San Antonio, Houston and Dallas. The expansion, which is set to start July 14 but which could begin sooner, will add millions of consumers to OnTrac’s 250 million-person addressable network.
Chicago is expected to be the next step in the company’s ground parcel business-to-consumer expansion.
OnTrac, based in Chandler, Arizona, provides coast-to-coast deliveries to 31 states and the District of Columbia, typically in three days at the longest. OnTrac serves eight states west of Colorado, including all of California. LaserShip, based in Vienna, Virginia, goes as far west as Arkansas, blanketing the East Coast and the Middle Atlantic regions.
The company, which will remain in Vienna, saw its debt downgraded in March by debt agency Moody’s Investors Services due to very high financial leverage, weak liquidity and moderate scale in the competitive e-commerce residential delivery market.
In the report, Moody’s said it expects LaserShip’s leverage to remain very high and liquidity to remain weak through 2023.
LaserShip’s network capacity growth in 2022, spawned by its late ’21 acquisition of West Coast regional carrier OnTrac, enabled it to operate successfully during the ’22 peak season, according to Moody’s.
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now
Johnathan Lara
They pay their contractor drivers only 1.50 per delivery I worked for them 10 year drivers take on all expenses from gas,insurance,van maintenance,plus they fight with rsp for day offs n missing $