CEDAR RAPIDS — Alliant Energy’s transportation subsidiary has announced plans to buy Cedar Rapids-based Hybrid Transit Systems.
Alliant Energy Transportation, a wholly owned subsidiary of Alliant, announced in a Monday news release the company had entered into a purchase agreement with the Cedar Rapids company. No Alliant Energy utility customer dollars are being used in the purchase, the release notes.
“We are proud to add Hybrid’s expanded services and experienced professionals to our team. By combining our considerable resources, we can create a more competitive organization with custom supply chain solutions for our shippers,” Kevin Burke, president of Alliant Energy Transportation, said in the release.
The acquisition will add a new layer of freight transport to Alliant Energy Transportation, which already operates the Cedar Rapids and Iowa City Railway — often referred to as CRANDIC — and IEI Barge Services in East Dubuque, Ill.
Hybrid Transit was founded in 2005 and provides a variety of freight movement services, including over-the-road trucking, rail, air and ocean freight.
“With our combined portfolio of products and services, we’re fueled for growth with the financial strength to better provide long-lasting, seamless solutions. We look forward to this partnership,” Hybrid President and CEO John Miller said in the release.
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