Burlington Air Express Is Spun Off
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IRVINE — Shareholders for the parent company of Burlington Air Express have voted to spin off the international freight forwarding company as part of a separate entity.
Under the name Pittston Services Group, Burlington and affiliate Brinks Inc. were separated from Pittston Co.’s other minerals businesses to better reflect investor interest.
In Tuesday’s trading on the New York Stock Exchange, shares of the new group closed at $20.125 apiece, up 50 cents.
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