Prime Inc., an international refrigerated, flatbed and liquid-bulk truckload carrier with headquarters in Springfield, Mo., has purchased the assets of bankrupt Rocor International Inc., Oklahoma's largest trucker.
Prime's purchase of Rocor's 850 trucks and existing business relationships closed last Friday, according to Steve Crawford, Prime's general counsel. Crawford did not provide a price, but said the acquisition included assumption of some Rocor liabilities.
Oklahoma City-based Rocor employed about 1,000 workers and specialized in transporting refrigerated freight. It filed for Chapter 11 bankruptcy in August, claiming debts in excess of $100 million and assets between $10 million and $50 million.
Crawford said some "transitional changes" will be made in Oklahoma City, but indicated that privately held Prime would maintain the bulk of Rocor's operations.
"We consider all those assets as a nearly perfect complement to Prime Inc.," Crawford said. "The addition of another 800 trucks plus support staff and the driver base, which is already in place, is excellent news for our customers."
Rocor will now operate as RTC, a division of Prime, the company said.
Before the purchase, Prime's fleet consisted of 2,500 trucks, most operated by independent contractors.
Prime's purchase of Rocor's 850 trucks and existing business relationships closed last Friday, according to Steve Crawford, Prime's general counsel. Crawford did not provide a price, but said the acquisition included assumption of some Rocor liabilities.
Oklahoma City-based Rocor employed about 1,000 workers and specialized in transporting refrigerated freight. It filed for Chapter 11 bankruptcy in August, claiming debts in excess of $100 million and assets between $10 million and $50 million.
Crawford said some "transitional changes" will be made in Oklahoma City, but indicated that privately held Prime would maintain the bulk of Rocor's operations.
"We consider all those assets as a nearly perfect complement to Prime Inc.," Crawford said. "The addition of another 800 trucks plus support staff and the driver base, which is already in place, is excellent news for our customers."
Rocor will now operate as RTC, a division of Prime, the company said.
Before the purchase, Prime's fleet consisted of 2,500 trucks, most operated by independent contractors.
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