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Kenan
Advantage Group Acquires Klemm Tank Lines
This
purchase is part of Kenan Advantage Group’s strategic vision of creating the
nation’s largest and most technologically advanced bulk carrier specializing
in petroleum and niche chemicals transportation.
“Our
purchase of Klemm Tank Lines represents our continual search for companies
that offer high value in their industry with a record of strong
profitability,” said Carl Young, CFO, of the Canton, Ohio-based Kenan
Advantage Group. “Klemm has a history of providing technology enhanced
value-added services with a strong profit history, making it an ideal addition
to the growing KAG organization.”
“Klemm
is a powerhouse in the Wisconsin and northern Illinois region and has been led
by a top-flight management team,” said Dennis Nash, Kenan Advantage Group
CEO. “We’re delighted to
announce that this team will join KAG management. They demonstrate a vitality
and positive outlook about business that is a common ingredient in the KAG
workplace.”
Green
Bay, Wisc.-based Klemm handles a broad range of products including fuels,
asphalt, liquid petroleum gas (LPG) and chemicals.
Kenan
Advantage Group (KAG, www.thekag.com)
is the nation’s largest bulk transportation and logistics provider to the
petroleum industry and niche service supplier to the chemical industry. With
this acquisition, the Kenan Advantage Group now operates more than 2,000 power
units and 2,500 trailers in 36 states.
Klemm
Tank Lines Inc., (Klemm, www.klemmtanklines.com)
founded in 1950, operates more than 260 power units and 410 trailers from six
primary terminal locations.
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