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TAMPA -- Quality Distribution Inc. (symbol: QLTY), a firm that owns a number of regional trucking shipment operators, acquired Greensville Transport Co. for $8.5 million in cash.
Based in Chesapeake, Va., Greensville provides customers with truck delivery access to ports in Virginia, Maryland, and South Carolina. The firm generated $8 million in revenues in 2010, a release says.
Quality expects its latest acquisition to close in the fourth quarter. The Tampa company expects Greensville to add to its earnings and cash flow in 2012.
Over the past year, Quality's stock price has appreciated in value by more than 50%, to a per-share price near $10 as of Monday morning. The company generated $687 million in revenues in 2010, as well as $36.7 in operating income.
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