Florida-based carrier Quality Distribution is selling subsidiary Bulknet.com to Mark S. Bitting, Bulknet's President and CEO, for an undisclosed amount.

Bitting leads a small group of investors who will acquire the stock during the second quarter of this year. According to a company announcement, the move will position Bulknet more favorably as a neutral exchange, servicing and providing unique application services for the chemical transportation and the tank truck industries. It will allow Quality Distribution to focus on its core tank truck services while still taking advantages of Bulknet.com as a member.
Bulknet.com was launched a little over a year ago. It is an online exchange, as well as a load tendering and scheduling software provider, serving the bulk motor transportation marketplace.
Bulknet, located in Tullytown, Pa., plans to unveil several enhancements to the tracking and accounting utilities included with its software.