Prime Purchases Assets Of ROCOR International
Prime Inc., a leading international refrigerated, flatbed and liquid bulk truckload carrier headquartered in Springfield, Missouri, has announced that it has agreed to purchase the assets of Oklahoma City based ROCOR International. "This acquisition is important to Prime," said Robert Low, president of Prime, "because it further enhances our core capabilities. We began as a refrigerated carrier and that remains at the heart of our business. The additional capacity of another 850 trucks plus the staff and driver base already in place to support them is good news for our customers throughout North America."
Prime's fleet currently features 2,500 trucks of which most are operated by independent contractors. The ROCOR fleet, consisting primarily of company drivers, includes 850 tractors and 1,100 trailers. ROCOR sought bankruptcy protection filing for Chapter 11 in August of this year. Shortly thereafter the ROCOR Estate made it's intention clear to sell all assets to the highest bidder. On October 8th Prime offered the prevailing bid for substantially all of the assets of the company. The assets, including support staff, equipment and existing business relationships are considered a near perfect complement to Prime.
The company will not continue operating as ROCOR. Rather the company will be called RTC division of Prime Inc. and will operate out of its existing Oklahoma City terminal, which will be leased by Prime as part of the purchase agreement. "It is our intent," concludes Low, "to extend our business model - one that combines dedicated associates , superior equipment, modern technology and exceptional customer service - to the Oklahoma City operation so that they may enjoy the same success as we've seen in Springfield."
Posted on October 24, 2002
by Prime Inc.