Vitran purchase of Old Dominion?

Discussion in 'Old Dominion' started by sivicman, Apr 10, 2010.

  1. sivicman

    sivicman Bobtail Member

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    Can anyone confirm rumors of Vitran in talks to purchase Old Dominion? Rumors out of Pjax's home office in Pittsburgh say that Vitran wants to acquire Old Dominion freight.
     
  2. Crash935

    Crash935 Medium Load Member

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    Doubt it, they have enough of a problem taking care of what they already have let alone the $$ to do it.

    Probabally just another rumor that line haul drivers like to start to see how long it takes to get across the country or make it to the internet.
     
  3. stranger

    stranger Road Train Member

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    OD is pretty profitable. It may be they are doing the buying.
     
  4. sivicman

    sivicman Bobtail Member

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    You would think so, but stranger things have happened. Pjax drivers in Toledo re-named the company "Welfare Trucking" after the Vitran merger.
     
  5. BackIsSore

    BackIsSore Medium Load Member

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    Dont think Vitran can afford OD after seeing what they've done to the cheap co's they bought.
     
  6. ODFL4ME

    ODFL4ME Bobtail Member

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    Wow.... It's been awhile since I was lurking around on here. Vitran purchasing OD? No way. For one, they don't have the cash. Yes, OD is a publicly traded company, but how do you think they continue to sell their "Family Atmosphere" idea to employees? It's because the company IS for the most part, family/employee owned. I'm sure there are hundreds, or even thousands of other company drivers, besides myself, that own company stock, but anyone who looks at the reports will see, that the holders in the largest numbers, are those on the board, nearly all of whom, are family members. Old Dominion is a family company, that very tactfully chose to incorporate the benefits and advantages of becoming publicly traded. In the current economic environment, companies aren't being too subtle about purchase opportunity. What I mean to say is, if the folks down there in Thomasville were looking to sell their ship, I think they would be more focused on slapping on a fresh coat of paint and calling it a day, than in making the long term investments in the hull that they have made.
     
  7. 57104 - Ya Heard!

    57104 - Ya Heard! Bobtail Member

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    Things are changing for the better at Vitran. Starting in Feb. 2012 750 new 53" air-ride 102" wide trailers with roll doors will replace the 48ft. pjax spring trailers. (This is already starting to take place) Also an additional 450 new tractors, 450 were purchased in 2011 as well, there are 250 new yale forklifts being purchased for 2012. It a start to say the least. This is a result of Chris Keylon being the newly appointed President of Vitran as of January 2012. He was the Senior Vice President of Operations for FedEx Freight and spent the last 16 years with FedEx. :)
     
  8. LSAgentOZR

    LSAgentOZR Road Train Member

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    Good luck on that. I was just reading where they company lost $8.2 million last year.
     
  9. stranger

    stranger Road Train Member

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    In my viewing experience, buying/leasing a lot of new equipment by a trucking is a last ditch effort to avoid bankruptcy. This is done in the hopes the new equipment will be more fuel efficent, require less maintenance, put out a positive appearance to customers, the general public, and the employees.

    In most cases, the company within a year declares bankruptcy anyway, and then goes out of business. I have seen this happen several times.
     
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  10. 57104 - Ya Heard!

    57104 - Ya Heard! Bobtail Member

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    You guys have great points. The U.S. side of Vitran did lose money. That was told to us, but I don't know how the rest of Vitran did.

    Stranger that was well said. The tractors are getting 4.58 mpg, sad, when someone that doesn't do their due diligence on behalf of the company apparently took Internationals word verbatim. "this tractor will average 6.7 mpg." lol, pulling empties on a test track? what about 21k on the lead and 16k on the rear on rolling I-80 hills rollin west out of Des Moines with a 10 to 15 mph headwind? for that I was getting 4.2 for the trip from DES to SIO. It's a gig, it feeds the family.
     
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