SCS ponders Jevic sale
KANSAS CITY — Some shareholders of U.S. for-hire giant SCS Transportation want the carrier to sell its New Jersey-based Jevic subsidiary, claiming that it is “underperforming.”
According to Associated Press, a group of investment funds are calling for the company to auction off chemical supply carrier Jevic, which they say is and is a drag on SCS’s stock price.
Jevic, has more than 1,200 tractors and employs about 2,700 people, with terminals all over the U.S.
The dissident shareholders say SCS should ditch Jevic and keep its other large trucking subsidiary, Georgia-based LTL carrier Saia Motor Freight Line.
SCS is the 24th largest carrier in the U.S.
— from Associate Press
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