Smart Ventures to Enter Logistics and Transport, Acquire Trucking Fleet
Smart Ventures, an independent energy company, has announced a new definitive agreement to enter into the transportation industry.
The company noted that it has “engaged a full service logistics and transportation company located in Houston, Texas to manage our trucking fleet on an outsourced management basis.”
The rationale?
Smart Ventures commented that it “decided to enter into the midstream asset business of transportation because of its relative high profit margins of 40-50% which should provide our stakeholders a better share price evaluation through increased revenue, strong assets and a more diversified business model.”
The company intends to acquire a fleet of tractor-trailer trucks soon and have already lined up contracts as a leased on carrier with drivers being provided by a local temporary agency.
Growth in the oilfield services industry appears to be its principle target.
More at: www.sandaydrilling.com.
Category: General Update
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
