Trism Inc., Kennesaw, Ga., is getting out of areas it says has made it unprofitable over the last two years.
The company will concentrate on its core profitable businesses in heavy haul, government munitions, commercial explosives, and radioactive waste, dropping segments of its business in general freight and hazardous waste.
Bill Culbertson, Chief Operating Officer, will lead the downsizing effort. The company says has reached agreements with Mercedes-Benz Credit Corp. and its other equipment lenders to reschedule certain equipment payments and to return excess tractors. Other excess trailers will be sold, several terminal facilities will be closed, and some personnel will be eliminated.
In late 1999, Trism filed for Chapter 11 bankruptcy protection and emerged from its reorganization in February 2000. During 2000, it bought more trucks, won a five-year contract from the Department of Energy, and raised driver pay.
In October 2000, the company announced management changes, and in January named new top executives. In February, Trism announced the sale of its Super Heavy Haul Division to Houston-based specialized heavy hauler Emmert International.
In April, Trism started looking for buyers for all or part of its business and adopted a "poison pill" to prevent hostile takeovers.
The company will concentrate on its core profitable businesses in heavy haul, government munitions, commercial explosives, and radioactive waste, dropping segments of its business in general freight and hazardous waste.
Bill Culbertson, Chief Operating Officer, will lead the downsizing effort. The company says has reached agreements with Mercedes-Benz Credit Corp. and its other equipment lenders to reschedule certain equipment payments and to return excess tractors. Other excess trailers will be sold, several terminal facilities will be closed, and some personnel will be eliminated.
In late 1999, Trism filed for Chapter 11 bankruptcy protection and emerged from its reorganization in February 2000. During 2000, it bought more trucks, won a five-year contract from the Department of Energy, and raised driver pay.
In October 2000, the company announced management changes, and in January named new top executives. In February, Trism announced the sale of its Super Heavy Haul Division to Houston-based specialized heavy hauler Emmert International.
In April, Trism started looking for buyers for all or part of its business and adopted a "poison pill" to prevent hostile takeovers.
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