Patriot Transportation Holding Inc announces loss of customers

Patriot Transportation Holding Inc announced that its transportation group has been unsuccessful in renewing certain contracts with significant customers recently. The holding company operates tank truck carrier Florida Rock & Tank Lines Inc based in Jacksonville FL.

For the fiscal year ending September 30, 2009 the revenue from these customers was $10,012,000 or approximately 11.0% of transportation group revenue. The customers were lost to competing carriers due to lower pricing. The transportation company will provide transitional services to the customers.

While Florida Rock & Tank Lines continues to face an intensely competitive environment, management is committed to securing replacement business at rates that produce satisfactory returns for our shareholders, according to company officials.

TAGS: Archive
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish