New Penn | Sale sign on Pyle

Irishman107

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Was told by someone in upper management that DUIE PYLE was up for sale, and that is the reason they hired our Ex Pres Steve O. Since Steve O was involved in New Penn being sold twice, Pyle took him on to make the company look as good as possible for potential buyers. Seems that when Pyle is sold Stevie will get a big chunk of change and go his merry way. Maybe a union carrier will buy them, I here ABF maybe interested!! Anyone else here anything about this?
 
Rumor I heard is that they might be downsizing the operation or being put up for sale. This would be good for New Penn,but I would hate to see more people loose their jobs.
 
Cityman said:
Rumor I heard is that they might be downsizing the operation or being put up for sale. This would be good for New Penn,but I would hate to see more people loose their jobs.
well whoever buys them will be taking on their freight, so i would think that they would need most if not all of their drivers.
 
i haven't heard a peep about this. why would they put their co. up for sale ??? the family wants out ? everyone i spoke to is clueless.
 
Check the Pyle forum ....
If Pyle is expanding, then would it make good business sense to move into an area when profits will be slim until accounts could be secured ?
Perhaps we must watch ourselves as our competition nips at our heels, and that's with a Pyle company executive that knows our operation.
If we are to stay on top, we must work at it.
 
Was told that ABF is out of the picture. Looks like Southeastern Freight is buying them if they can come to terms (around 200 million). They are just buying the LTL division of Pyle. The family will continue to run warehouses and the OTR division. If time line is what I was told expect announcement by or before middle of November. U heard it here first.
 
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