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USF Corp. forms Mexico joint venture Sep 15, 2003 12:00 PM USF Corp. has announced that it has launched USF Mexico, a joint venture with Autolineas Mexicanas S.A. de C.V. (ALMEX) that will provide transportation and logistics services on both sides of the U.S.-Mexico border. ALMEX is Mexico's only nationwide LTL carrier, with a network of 52 terminals and five hubs providing service to virtually all of Mexico. The Mexican carrier will work alongside USF's LTL, TL and logistics services in the fourth quarter. "Through ALMEX, we have a strong regional carrier inside of Mexico offering complete warehousing, dedicated fleet and distribution capabilities with daily direct service to all major industrial and metropolitan markets," said Doug Waggoner, senior vp – strategic marketing for USF. USF said it has made an investment in the joint venture in the form of a $10-million loan, which in time can be converted into equity. Under the terms of the joint venture, USF will have the option to eventually own a majority position.
USF Bestway President Gary Beggs will assume responsibility for USF Mexico.
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