Owner of U.S. Trucking Acquires PTG

December 14, 1999 10:58 AM, EST

Professional Transportation Group’s chief executive and majority shareholder, Dennis A. Bakal, is selling his stock to a Kentucky-based company that owns controlling interest in U.S. Trucking of Charleston, S.C.

Logistics Management will acquire 2.5 million shares, or about 56% of the outstanding voting shares of PTG, from Bakal for $3 million, the company said. The price includes a $500,000 loan which, under terms of the agreement, Bakal will contribute to the company as additional capital.

Bakal, despite the sale of stock, will stay on as president, along with Linda K. Roberts as vice president and Susan P. Dial as chief financial officer. All three will resign, however, as directors of the company.

Taking their place on the board will be Dan L. Pixler, chief executive officer of U.S. Trucking,

. Anthony Huff, a principal with Pixler in Logistics Management, and Jonathan Pollon, who was not identified further by the company.

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