Listed in: Integrated Freight Corporation (OTCBB: IFCR), Sarasota Florida Trucking and Freight Companies, motor freight company providing long-haul, low cost motor freight company , trucking industry investment news , long haul freight services, long haul trucking services, get a quote for freight services, publicly traded freight delivery company, Paul A. Henry of Integrated Freight Corporation
On December 7, 2011 Integrated Freight (OTCBB: IFCR) (OTCQB: IFCR) announces the execution of a $3.4 million financing commitment from Utica Leaseco for the restructuring of its Cross Creek Trucking subsidiary. Cross Creek is a Medford, Oregon-based motor carrier that specializes in transporting refrigerated organic fruit and vegetables. This financing will be used primarily for refinancing the carrier’s revenue equipment.
“Since IFCR’s acquisition of Cross Creek earlier this year, we have recognized that restructuring the company’s financing would be key to its long term success,” said Hank Hoffman, president and COO of Integrated Freight Corporation. “With the new equipment financing in place, the Cross Creek team will be able to focus on profitable growth in its niche refrigerated markets.”
Integrated Freight Website: http://integrated-freight.com/
David Levy, president of Utica Leaseco of Detroit, Michigan, stated, “Utica Leaseco specializes in providing asset-based financing solutions for companies. Our focus is to rely on machinery and equipment as collateral in the sale/leaseback transactions. We are very pleased to be working with Cross Creek and Integrated Freight Corporation. We look forward to a long working relationship with IFCR and its team in Oregon.”
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