Norfolk Southern to sell van line

By Staff -- Logistics Management, 2/1/1998

Norfolk Southern Corp., the parent company of Norfolk Southern Railway, has agreed to sell North American Van Lines Inc. (NAVL) to Clayton, Dubilier & Rice Inc. CD&R is a private investment firm that manages equity capital for institutional investors.

North American, headquartered in Fort Wayne, Ind., operates one of the nations' largest van lines. In addition to providing relocation services, NAVL also offers specialized freight-handling services and third-party logistics services.

The sale comes while Norfolk Southern is in the midst of seeking regulatory approval for its proposed takeover (with CSX Corp.) of Conrail, the major railroad operator in the Northeast. Norfolk Southern Corp. Chairman David Goode said the sale would allow NS to concentrate its efforts on rail operations.