Indiana's Towne Air makes fifth acquisition in four years

SOUTH BEND, Indiana's small, but fast-growing Towne Air Freight has made its fifth acquisition in four years with the take over of HBI Freight, one of the largest full-service air cargo and home delivery trucking companies on the eastern seaboard.

Towne Air, founded in South Bend in 1963, is privately held, and employs 1,800. Washington-based HBI employs 200, and should be integrated with Towne Air by mid-December, reported the South Bend Tribune.

"We've been seeking the right opportunity to increase our market share and develop a more robust operation on the east coast," said Towne CEO Tom Downey. "The acquisition of HBI affords us the ability to intensify our commitment to that region with an established core of seasoned associates who are knowledgeable in both air freight and home delivery."

The acquisition is the fifth in four years for Towne Air, which employs nearly 300 in South Bend. And there are still a few spots in the United States where the company could see itself expanding into, said Towne Air sales chief Paul Martins.

Mr Martins said the company's goal is to assure customers that Towne Air will be handling its freight as it is moved throughout the United States. In places, Towne Air still has to hire other firms to move the freight to one of its terminals.

Towne Air is typically hired by logistics firms working for a larger company moving parts or finished products. The company moves anything from car parts to medical devices and plasma TVs, said the Tribune report.

"They use us for expedited ground transport," said Mr Martins, adding that the company moves more than 120,000 shipments a month.
(Source:www.schednet.com)