Drivers

Paschall Truck Lines Sold to Employees

November 04, 2013

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Kentucky-based Paschall Truck Lines President and CEO Randall A. Waller has sold 100% percent of his stock in the company to its employees through an Employee Stock Ownership Plan.

Photo: Evan Lockridge
Photo: Evan Lockridge

Paschall Truck Lines, more commonly known as PTL, is a truckload, dry-van freight carrier with 1,384 employees between its facilities in Murray, Ky.; Franklin, Tenn., West Memphis, Ark.; Indianapolis, Ind.; El Paso, Tex., Brownsville, Tex. and Laredo, Tex. It has been around for more than 70 years.

“Employee ownership of PTL has been a dream of mine for a long time and makes the fulfillment of my promise to keep PTL in the communities in which we now work even more possible,” said Waller.

Waller reportedly examined a number of options to sell his ownership in the company.

“In the end, Mr. Waller felt that the ESOP provided him a fair return on his investment, and just as importantly, ensures that the headquarters and primary administrative functions will remain in Murray,” said Chuck Wilson, chief financial officer. 

Comments

  1. 1. Dennis Heis [ November 05, 2013 @ 08:50AM ]

    "All the Best" to everyone at PTL on your ownership (ESOP) program.

 

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