Student Transportation Inc. Closes Acquisition
Student Transportation Inc.
24.05.2012 18:35
---------------------------------------------------------------------------
WALL, N.J., 2012-05-24 18:34 CEST (GLOBE NEWSWIRE) --
Student Transportation Inc., (STI) (Nasdaq:STB) (TSX:STB), North America's
third-largest provider of school bus transportation services, reported the
closing of the previously announced asset purchase and sale agreement with
National Express Corporation. In order to resolve antitrust concerns for the
merger of National Express Corporation and Petermann Partners Inc., the
divested contracts open two additional states for STI to provide transportation
services in Texas and Washington. All the school districts have unanimously
approved the contract transfer agreements. STI will now operate over 9,000
vehicles in 15 U.S. states and Canada.
'This is a very good opportunity for us entering two new states that have
excellent growth potential,' said Patrick Vaughan, STI Chief Operating Officer.
'The experienced Petermann team joining our family will be a great addition to
our operations. We are pleased that all the school districts overwhelmingly
approved the contract transfers and we are ready to serve them with the
continued level of safe and reliable transportation they have received from
Petermann.'
About Student Transportation
Founded in 1997, Student Transportation Inc. (STI) is North America's
third-largest and fastest-growing provider of school bus transportation
services, operating more than 9,000 vehicles. STI's family of local companies
delivers safe, reliable and cost-effective transportation solutions to school
districts throughout the U.S. and Canada. Services are delivered by drivers,
dispatchers, maintenance technicians, terminal managers and others who are
caring members of their local communities. For more information, please visit
www.rideSTBus.com.
The Student Transportation Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10886
Forward-Looking Statements
Certain statements in this news release are 'forward-looking statements' within
the meaning of applicable securities laws, which reflect the expectations of
management regarding, among other matters, STI's revenues, expense levels, cost
of capital, financial leverage, seasonality, liquidity, profitability of new
businesses acquired or secured through bids, borrowing availability, ability to
renew or refinance various loan facilities as they become due, ability to
execute STI's growth strategy and cash distributions, as well as their future
growth, results of operations, performance and business prospects and
opportunities. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as 'may', 'will', 'expect', 'intend',
'estimate', 'anticipate', 'believe', 'should', 'plans' or 'continue' or similar
expressions, and the negative forms thereof, suggesting future outcomes or
events.
CONTACT: Keith P. Engelbert
Director of Investor Relations
(843) 884-2720
Email: invest@rideSTBus.com
Website: www.rideSTBus.com
News Source: NASDAQ OMX
24.05.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Student Transportation Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: CA86387Y2069
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
Student Transportation Inc.
24.05.2012 18:35
---------------------------------------------------------------------------
WALL, N.J., 2012-05-24 18:34 CEST (GLOBE NEWSWIRE) --
Student Transportation Inc., (STI) (Nasdaq:STB) (TSX:STB), North America's
third-largest provider of school bus transportation services, reported the
closing of the previously announced asset purchase and sale agreement with
National Express Corporation. In order to resolve antitrust concerns for the
merger of National Express Corporation and Petermann Partners Inc., the
divested contracts open two additional states for STI to provide transportation
services in Texas and Washington. All the school districts have unanimously
approved the contract transfer agreements. STI will now operate over 9,000
vehicles in 15 U.S. states and Canada.
'This is a very good opportunity for us entering two new states that have
excellent growth potential,' said Patrick Vaughan, STI Chief Operating Officer.
'The experienced Petermann team joining our family will be a great addition to
our operations. We are pleased that all the school districts overwhelmingly
approved the contract transfers and we are ready to serve them with the
continued level of safe and reliable transportation they have received from
Petermann.'
About Student Transportation
Founded in 1997, Student Transportation Inc. (STI) is North America's
third-largest and fastest-growing provider of school bus transportation
services, operating more than 9,000 vehicles. STI's family of local companies
delivers safe, reliable and cost-effective transportation solutions to school
districts throughout the U.S. and Canada. Services are delivered by drivers,
dispatchers, maintenance technicians, terminal managers and others who are
caring members of their local communities. For more information, please visit
www.rideSTBus.com.
The Student Transportation Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10886
Forward-Looking Statements
Certain statements in this news release are 'forward-looking statements' within
the meaning of applicable securities laws, which reflect the expectations of
management regarding, among other matters, STI's revenues, expense levels, cost
of capital, financial leverage, seasonality, liquidity, profitability of new
businesses acquired or secured through bids, borrowing availability, ability to
renew or refinance various loan facilities as they become due, ability to
execute STI's growth strategy and cash distributions, as well as their future
growth, results of operations, performance and business prospects and
opportunities. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as 'may', 'will', 'expect', 'intend',
'estimate', 'anticipate', 'believe', 'should', 'plans' or 'continue' or similar
expressions, and the negative forms thereof, suggesting future outcomes or
events.
CONTACT: Keith P. Engelbert
Director of Investor Relations
(843) 884-2720
Email: invest@rideSTBus.com
Website: www.rideSTBus.com
News Source: NASDAQ OMX
24.05.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Student Transportation Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: CA86387Y2069
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------