Frozen Food Express Gets Cash Infusion
June 1, 2000
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.