Terion Inc., Melbourne, Fla., will emerge from Chapter 11 bankruptcy protection
on August 30, according to a company announcement.
The United States Bankruptcy Court, Middle District of Florida, Orlando Division, approved the company’s reorganization plan, Terion said.
Terion markets the FleetView trailer tracking system that it introduced in March of 2000.
“We are pleased to exit bankruptcy in such an expedited time frame," said Terion President Ken Cranston. "Terion’s emergence validates the importance and demand for our FleetView product in the transportation industry. Our customers and investors have recognized the positive impact trailer fleet management systems can have on the efficiency of the supply chain.”
Terion filed for Chapter 11 in January of this year. In July, the company sold off its driver communications solution originally called Mobile Messenger to Global 2-Way of Marcos Island, Fla.
Prior to the bankruptcy filing, Terion had expressed its intention to concentrate on trailer tracking technology.
Terion claims that FleetView is the leading untethered trailer-tracking product in the North American market with approximately 50,000 units in the field. Fleet customers include XTRALease and J.B. Hunt among others.
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