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Marine Repair Services-Container Maintenance Corporation, ITI Intermodal and Columbia Container Serv
Together the new combined entity will be stronger, bigger and better. This will be a win-win situation for the industry, and specifically for its key customers and relationships, including the global steamship lines, chassis providers, container and generator manufacturers and lessors, port authorities and local governments, the leading railroad companies, its partners at the International Longshoreman's Association, and, of course, its employees.
The common denominator for each company is a shared heritage of long-term family ownership and management providing best-in-class services measured by quality and reliability. Each business grew from its local market and expanded into adjacent geographies. They also share a keen focus on creating a safe and secure work environment for employees and offering them long-term career opportunities. The founders pride themselves on being reliable partners for all constituencies, and, to that end, each company has made substantial investments in facilities, equipment, technology, and people to deliver unmatched quality services.
Over the past decade, global transportation markets have continued to evolve significantly. Beyond the supply chain issues driven by the global pandemic, markets, manufacturers, transportation and distribution companies, and retailers have created higher levels of interconnectedness and dramatically shortened times to market. This ongoing evolution is increasing the need for a reliable transportation network to which all three companies provide mission critical repair, maintenance, inspection, and storage services. CMC, ITI and Columbia Container are proud to have played a consistent role in support of their customers.
It's important to note what will not change. All the founders, each of whom will own significant equity in the new company, are going forward with the business together with an unwavering commitment to their combined family heritage. The new company will be under the leadership of Vincent Marino, Joshua Cooley, and Bruce Fenimore. All three founders will serve on the Board of Directors. Moreover, the merger will not impact local leadership or employees. The successful combination of the operations will position the company to meet the growing needs of their markets and continue to be the preferred place within the industry to work.