Wednesday, December 19, 2007

Allied pulls bid on PTS

Private Equity HUB - Allied Systems Pulls Bid: "Allied Systems Holdings Inc., facing a slew of objections from creditors, has withdrawn its $67 million bid for fellow auto hauler Performance Transportation Services Inc."

Boydstun and Cottrell reach settlement.

Received this press release from Boydstun:

Portland, Oregon December 13, 2007 – Boydstun Metal Works announced today they have reached a mutually acceptable settlement with Cottrell Trailers regarding certain intellectual properties belonging to Boydstun Metal Works. The patents in question, one for Boydstun Screw Actuator Technology and the other for the Boydstun Soft Tie System, have contributed significantly to improving safety, quality, training and productivity related to the auto transport industry.

Despite differences of opinion between Boydstun and Cottrell on the direction of the industry, both organizations have invested heavily in new technology designed to improve auto transport. The agreement announced today allows both companies to offer the innovations that were the subject of the dispute to the auto transport industry going forward, an outcome desired and endorsed by Boydstun.

The Boydstun Metal Works brand is known for innovative engineering and production processes; assets that the company must protect but also employ for the industry wide benefit of auto transport. In keeping with its heritage, Boydstun will continue to evaluate and employ new technology to benefit the fleets that serve the automotive industry in what is unquestionably a very challenging marketplace.