HOUSTON, Aug. 15, 2018 /PRNewswire/ -- Adams Resources
& Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company")
today announced that one of its subsidiaries, GulfMark Energy, has
executed a definitive agreement to acquire a trucking company that
owns 113 tractor trailer trucks and 126 trailers operating in
North Texas and South Central
Oklahoma.
"We are pleased to acquire this business," said Geoff Griffith, President of GulfMark
Energy. "This acquisition greatly expands our operating area
into one of the most active drilling and operating regions in
the United States and will be
immediately accretive to earnings. We look forward to
providing service in this area to our future customers."
This transaction is subject to customary regulatory approval and
closing conditions. Adams expects to close the transaction as
soon as practicable after such regulatory approvals and closing
conditions have been satisfied, which is expected to occur in the
fourth quarter of 2018.
Adams Resources & Energy, Inc. is primarily engaged
in the business of crude oil marketing, transportation and storage,
tank truck transportation of liquid chemicals and dry bulk and ISO
tank container storage and transportation through its two
subsidiaries, GulfMark Energy, Inc. and Service Transport Company,
respectively. For more information, visit
www.adamsresources.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains forward-looking
statements. Forward-looking statements relate to future events and
anticipated results of operations, business strategies, and other
aspects of our operations or operating results. In many cases you
can identify forward-looking statements by terminology such as
"anticipate," "intend," "plan," "project," "estimate," "continue,"
"potential," "should," "could," "may," "will," "objective,"
"guidance," "outlook," "effort," "expect," "believe," "predict,"
"budget," "projection," "goal," "forecast," "target" or similar
words. Statements may be forward looking even in the absence of
these particular words. Where, in any forward-looking statement,
the Company expresses an expectation or belief as to future
results, such expectation or belief is expressed in good faith and
believed to have a reasonable basis. However, there can be no
assurance that such expectation or belief will result or be
achieved. Unless legally required, Adams undertakes no obligation
to update publicly any forward-looking statements, whether as a
result of new information, future events or otherwise.
Contact: Tracy E.
Ohmart
EVP, Chief Financial Officer
tohmart@adamsresources.com
(713) 881-3609
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SOURCE Adams Resources & Energy, Inc.