Car-hauler Allied Automotive, Decatur, Ga., is closing three of its "non-performing and non-core terminals" in the U.S. and Canada.
Allied will close its Houston, Texas; Selkirk, N.Y.; and Edison, N.J., terminals during the fourth quarter. In the first nine months of 2001, the operations of AAG at Houston, Edison and Selkirk generated approximately $23 million in revenues and posted operating losses of approximately $4 million.
This follows the closing of Allieds' Doremus, N.J., facility in July.
"Allied has clearly raised its standards for acceptable performance," said Hugh E. Sawyer, president and CEO of Allied Holdings. "We will continue to monitor the progress of our terminal locations and will close additional sites that do not achieve our expectations for improved results."
Sawyer also noted that the company has successfully increased pricing through a new administrative processing fee and significantly reduced corporate overhead expenses as it works on its turnaround plan.
Allied will close its Houston, Texas; Selkirk, N.Y.; and Edison, N.J., terminals during the fourth quarter. In the first nine months of 2001, the operations of AAG at Houston, Edison and Selkirk generated approximately $23 million in revenues and posted operating losses of approximately $4 million.
This follows the closing of Allieds' Doremus, N.J., facility in July.
"Allied has clearly raised its standards for acceptable performance," said Hugh E. Sawyer, president and CEO of Allied Holdings. "We will continue to monitor the progress of our terminal locations and will close additional sites that do not achieve our expectations for improved results."
Sawyer also noted that the company has successfully increased pricing through a new administrative processing fee and significantly reduced corporate overhead expenses as it works on its turnaround plan.
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