F.T. Silfies Inc., a regional mid-Atlantic dry bulk carrier, announced that it has purchased Price Trucking, based in Aberdeen, Md. Terms were not announced.
“We couldn’t be happier with this acquisition, which strategically gives us a stronger presence in Maryland and opens up a new customer base that Silfies has not been servicing on a regular basis,” says Randy Sheeler, president and chief executive officer of Nazareth, Pa.-based Silfies.
“What made this acquisition special is that Dennis Price sought out Silfies and wanted a carrier that could carry on what he has worked on for over 50 years,” says Sheeler, who also announced that Ruth Gilley, Price’s daughter, has been named Aberdeen’s new terminal manager. “It seemed a natural fit to have Ruth, who grew up in the business and has been around Price her entire life, leading our terminal operations.”
Jim Niness, Silfies’ chief operating officer, says that Price’s drivers “are excited, and the look of Price will remain the same. We do plan, however, to add technology to the dispatch system and automate all processes to that of Silfies protocol.”