News release
FOR IMMEDIATE RELEASE
Media contact: Mike Wagner (319) 786-4409
Jeff Woods (319) 786-3698
Alliant Energy’s transportation subsidiary and Hybrid Transit Systems agree to sale terms
CEDAR RAPIDS – October 22, 2018 – 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.
Alliant Energy Transportation is a wholly owned subsidiary of Alliant Energy Corporation (NYSE: LNT).
Alliant Energy Transportation has provided a variety of freight services since 1904, when its primary
business—a railroad—began operating between Cedar Rapids and Iowa City. Alliant Energy Transportation offers rail,
material storage and handling, and logistics services. It’s also a leader in economic development efforts in the Midwest
through existing developments including Alliant Energy Transportation’s Logistics Park Cedar Rapids, and Alliant Energy’s
certified mega site—Big Cedar Industrial Center in Cedar Rapids. For more information,
visit: aetransportation.com.
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Hybrid Transit Systems, Inc. (SCAC: HYAT) is a federally licensed freight management company based in Cedar Rapids, Iowa. Hybrid has assembled a skilled management team, leading a tenured group of transportation professionals. We offer a full range of services for our customer base, primarily focused on domestic transportation.
The company has shown steady growth by serving a multitude of Fortune 500 shippers, processors, and manufacturers. Our size allows us to be very nimble in nature and quickly adapt to our customers ever changing needs. Our specialty is developing an intimate knowledge of our customers business in order to solve their most pressing transportation issues.
Hybrid has adopted a steadfast commitment to our Mission, Vision, and Values.
- We are a trusted business ally, rooted in integrity, committed to the continuous development of our people and innovative technology to create long lasting, seamless solutions.
- We look to sustain growth fueled by our values which cultivates long lasting relationships.
- We embrace core values which exemplify the highest levels of:
- Integrity
- Teamwork
- Strategic Investment
- Continuous Improvement
- Innovative Technology