Effective as of October 1, 2015, Penn Intermodal has concluded the sale of our Specialty Marine Chassis business to Transportation Equipment Solutions, LLC, (“TESL”) a wholly-owned subsidiary of Direct ChassisLink, Inc. The specialty marine chassis business covered by this transaction includes Penn’s 20’ Superslider Triaxles, 20’-40’ combo spreadaxles / triaxles and 40’ triaxle chassis. We are confident that TESL’s and DCLI’s professional service-oriented team, and their growing operational footprint, will magnify the value of this specialized fleet to our customers, and benefit the industry as a whole.
Penn will continue to sell select marine chassis, but our primary focus will be on servicing and retaining the dropframe chassis fleet. Our on-going efforts will be on providing exceptional service and expertise to this market.
We are deeply grateful for the opportunity to have worked with our dry box customers, vendors and intermodal industry associates over the last 25 years, and we thank all of you for your support. We look forward to enhancing our roll in the bulk liquid transport industry going forward.
On behalf of all of us at the Penn team,
President and C.E.O.