Federal Armored Express acquires Loomis accounts

February 26, 1992|By Liz Atwood | Liz Atwood,Staff Writer

Dundalk-based Federal Armored Express Inc., the nation's fourth-largest armored transportation company, has bought the customer accounts of Loomis Armored Inc. in Washington, Pennsylvania, Maryland, West Virginia and Virginia for an undisclosed amount.

"This acquisition is an integral part of our company's long-range expansion plans," said James L. Dunbar, founder and chief executive of the company.

"Federal Armored Express is the fastest-growing company in the industry," he said. "I'm particularly proud of our expansion during these difficult economic times, when so many other companies are cutting back."

Federal Armored, founded in 1956, has 1,500 employees and 500 vehicles in 65 branches nationwide.

The purchase of the accounts, effective March 1, will expand Federal Armored Express' ground and air armored services to Pittsburgh, Allentown, Stroudsburg, Hazeltown, York and Scranton, Pa.; Charlottesville, Va.; Hagerstown; and additional routes in Baltimore.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.