Alliant acquires freight management group

CEDAR RAPIDS – Alliant Energy Transportation (AET), a wholly owned subsidiary of Alliant Energy Corp., has entered into a purchase agreement with Cedar Rapids-based, Hybrid Transit Systems.

Headquartered in Cedar Rapids, AET currently operates the Cedar Rapids and Iowa City Railway, and IEI Barge Services in East Dubuque, Ill. The acquisition of Hybrid adds freight- management expertise to its portfolio.

“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,” said Kevin Burke, President – Alliant Energy Transportation.

Hybrid President and CEO, John Miller explains how the opportunity is a smart strategy for both companies. “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.”

No Alliant Energy utility customer dollars are being used for this sale. The purchase is wholly through a non-regulated subsidiary.

About Chuck Vandenberg 5094 Articles
Pen City Current and pencitycurrent.com are products of Market Street Publishing, LLC, a multi-platform media company delivering hyper-local news, sports and advertising information to Fort Madison, IA and surrounding communities.

Be the first to comment

Leave a Reply