(Radio Iowa) – An eastern Iowa trucking company has announced a 525 MILLION dollar transaction that will make it the nation’s eighth largest trucking fleet. Heartland Express is based in North Liberty. Contract Freighters Incorporated — or C-F-I — is based in Joplin, Missouri. Heartland Express is acquiring C-F-I’s logistics unit in Mexico as well as C-F-I’s truckload unit. C-F-I has facilities in Missouri, Michigan, Arkansas, Texas, Florida and Mexico. The addition of those six locations will give Heartland Express ownership of 30 terminals in the U.S. and Mexico.

After the acquisition is complete, Heartland will have 55-hundred semi tractors and nearly 18-thousand trailers in its fleet. However, C-F-I vehicles and terminals will continue to operate under the C-F-I brand and executive management.

Heartland Express began in 1955 as a hauler of Whirlpool washing machines. According to a news release from the company, adding C-F-I to its roster of companies means Heartland Express will have total assets of nearly two BILLION dollars and generate an estimated one-point-three BILLION dollars in annual revenue.