Segmentz Completes Sale of Trucking Unit

Logistics firm Segmentz Inc. said Tuesday it had completed the sale of the assets of its Temple Trucking unit to TTSI Holding Inc. on July 1.

The sale is part of the company’s restructuring program, Segmentz said in a statement.

Chief Executive Officer Mike Welch said the sale of Temple’s assets, along with the sale of a company property in Lexington, Ky., and a decrease in the companies outstanding accounts receivable have provided the company with sufficient capital to execute the rest of the company’s restructuring plan.

As part of that plan, the company said it would eventually move to Buchanan, Mich., from its current home base of Tampa, Fla.