PHOENIX, Ariz., Feb. 8, 2013 /PRNewswire/ -- PTA Holdings, Inc. (OTC Pink Sheets: PTAH) through its subsidiary Nortford, LLC announced today that it has signed a lease for a maintenance and operations facility in Fredericksburg, IA. The contract will be year-to-year for five years with a purchase clause at the end of the lease. The facility consists of several service bays, office space, potential retail space and parking space for semi-trailers. The facility will enable the Company to provide repair and reconditioning services for its fleet operations as well as for other fleet operators in the Midwest. According to American Trucking Association (ATA) statistics, motor carriers collected $603.9 billion, or 80.9% of total revenue earned by all transport modes.
Matt Spafford, President, was quoted saying "This facility will allow us to perform routine maintenance that in turn will help monitor our cost structure for owned tractors and trailers. In addition, we can create a new profit center by performing work for Owner Operators that are leased with our affiliated trucking companies. Long-term we are working on several retail avenues one of them being a national tire account that again will allow us to be more cost effective". With the addition of this facility we will have the space to take advantage of these opportunities. Spafford added.
About PTA Holdings, Inc.
Kingsley Logistics Group, acquired in June of 2012, is a multi-faceted transportation group providing a broad array of traditional transportation and management services. The focus of the combined companies is to expand the company via a strategic transportation industry roll-up.
Notice on Forward-Looking Statements:
This news release includes forward-looking statements regarding PTA Holdings, Inc. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties. Forward-looking statements speak only as of the date on which they are made and PTA Holdings, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE PTA Holdings, Inc.