Fleet Management

Frozen Food Express Gets Cash Infusion

June 01, 2000

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Dallas-based reefer fleet Frozen Food Express (FFEX) gained access to $50 million in cash through a credit agreement with a group of three banks, Wells Fargo Bank (Texas), Fleet National Bank of Boston, and Comerica Bank - Texas.

The agreement provides $50 million in revolving credit over two years.
"We are very focused on our efforts to return to our long-term history of profitability, and are looking forward to having available the liquidity to help fuel those efforts," said FFEX President and CEO, Stoney M. Stubbs Jr.

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