Texas-based trucking company Trinity Logistics Group is ceasing operations due to “lack of work” in an abrupt closure that left some drivers blindsided, sources close to the company told FreightWaves.
Drivers were told of the closure in a Sept. 28 conference call, sources told FreightWaves on Saturday. Dallas-based Trinity Logistics Group is a wholly-owned subsidiary of Trinity Industries, Inc. (NYSE: TRN.)
All of the equipment had been slated to be returned to the company’s headquarters on Friday.
Trinity Logistics Group had 102 drivers and 150 power units, according to the Federal Motor Carrier Safety Administration SAFER website. The carrier offered flatbed, oversize and heavy haul services, including hauling windmill components.
Trinity Industries’ spokesman Jack Todd did not return multiple telephone calls and emails seeking comment about the closure.
A source said all drivers were paid for their work and were not stranded without working fuel cards as was the case in other shutdowns, including Indianapolis-based Celadon and Falcon Transport of Youngstown, Ohio.
In its latest earnings call in July, Trinity Industries, which owns Trinity Rail, a company that manufactures railcars, said financial troubles in the frac sand sector hurt the company’s second-quarter net profits.
According to a FreightWaves report, Trinity said 2019 marked its first year as a rail-focused company. Earlier this year, Trinity named E. Jean Savage, who was already on Trinity’s board, as its new president and CEO.
While Trinity Industries has job openings in all of its other business segments, no trucking positions were listed.
This was a red flag for some of its drivers.
On the Trinity Logistics Group website, it states that “Our fleet has done an exceptional job this year and we are at capacity for drivers.”