2006 NEWS & PRESS RELEASES
Old Dominion to Enhance Coverage in Greater Western RegionFor Immediate Release Contact: Chip Overbey Date January 17, 2006 Earl E. Congdon, Chairman and Chief Executive Officer of Old Dominion Freight Line, Inc. (NASDAQ NN: ODFL) announced today that it would purchase selected assets of UW Freight Line, headquartered in Salt Lake City, UT. UW Freight Line, produced revenue of approximately $23 million for its fiscal year ending June 30, 2005 through its network of 19 service centers in 5 states. The transaction includes the purchase of accounts receivables, all revenue equipment, office equipment, all owned service centers, the corporate office, information systems and a service center currently under construction in Casper WY, for future direct coverage expansion. Effective Saturday, January 28 2006, Old Dominion will combine UW’s 19 terminal operations and their entire route structure with Old Dominion’s network of 154 service centers, increasing the ODFL network to 169 service centers. The 15 additional service centers for ODFL include; Grand Junction CO, Boise ID, Twin Falls ID, Pocatello ID, Idaho Falls ID, Elko NV, Price UT, Logan UT, Moab UT, Richfield UT, St. George UT, Vernal UT, Rock Springs WY, Afton WY, Evanston WY. Mr. Congdon said, “UW Freight Line is a well-run company with a strong franchise in its five state market and they have built an excellent reputation for providing quality transportation service. The move is consistent with our growth and service strategy, and is also in keeping with our focus of building a world-class multi-regional and inter-regional network.” “Old Dominion currently provides direct coverage to 44 states with 100% full state coverage to 33 states. With our current network offering of 154 service centers and with the addition of CO, ID, NV, and UT, the company’s direct coverage states will expand to 46 states and our 100% full state offering will increase to 37 states,” he said. According to Congdon, “Old Dominion currently offers high quality regional and inter-regional service within and between the Northeast, Southeast, Midwest, South Central and Western areas of the United States. This transaction enhances our current service offering in the Western States Region of the US, as well as, our inter-regional capabilities. Old Dominion customers will receive improvements to an already comprehensive OD•Domestic product offering with the additional 15 new service centers in CO, ID, NV, WY and UT.” “We plan to continue the quality intrastate and interstate service that UW Freight Line has provided its customers and will be focused on continuously improving the service product. In addition, we are committed to providing our new customers “Best-in-Class” inter-regional service, as well as, our added value products that include time definite OD•Expedited Service, international service within our OD•Global division, and high-speed state of the art OD•Technology services,” Congdon continues. Old Dominion Freight Line, Inc. is a multi-regional and inter-regional carrier with a growing national and global footprint. Domestically, OD provides inter-regional and regional less-than-truckload shipping of general commodities, such as consumer goods, textiles and capital goods to a diversified customer base. Upon completion of the acquisition, the company will provide direct service to 46 states & the District of Columbia in the Southeast, South Central, Central, Northeast, Midwest and Western regions of the country. Globally via its OD•Global division, OD offers LCL, FCL and Assembly & Distributions services to and from all of Canada, Central America, South America, and the Far East.
|