Matlack Systems, Wilmington, Del., one of the nation's largest tank transporters for the chemical industry, will cease operations Sept. 1.

The company filed for Chapter 11 bankruptcy protection in March, planning to restructure. But a continuing sluggish economy and $11.6 million in losses so far this year spelled the end for the struggling carrier.
According to published reports, Matlack will sell some of its real estate and equipment holdings to half a dozen competitors, including Tampa, Fla.-based Quality Distribution and Oak Brook, Ill.-based Superior Bulk Logistics. Any remaining assets will be disposed of or sold.
Matlack has 53 fleet terminals operating throughout the country and three in Canada, with about 1,500 employees.
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