U.S. Xpress invests in regional carrier
U.S. Xpress, the fifth-largest U.S. truckload carrier based on revenue, said it completed the acquisition of a 49 percent stake in Richmond, Va.-based Abilene Motor Express.
Abilene Chief Executive Officer Keith Jones and President Kolen Jones will continue to manage the company and control the majority share.
U.S. Xpress, Chattanooga, Tenn., has an option to purchase management’s share through Aug. 30, 2010.
Abilene provides regional and dedicated carriage in the eastern portion of the country.
U.S. Xpress had revenue of $1.1 billion in 2004. It also has minority interests in Arnold Transportation, Total Transportation of Mississippi and Transplace, a logistics company.