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Forward Air Corporation (NASDAQ: FWRD) (the "Company" or "Forward") is executing a growth strategy that involves organic infrastructure investments such as the ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Today Forward announced an organic growth initiative, offering less-than-truckload (LTL) service in Columbia, Missouri and Roanoke, Virginia.
Forward LTL will initially operate from the Company’s existing Final Mile facilities in Columbia and Roanoke and will evaluate the future need for separate locations based on growth. This expansion is part of Forward’s journey to grow and evolve its LTL network to broader market coverage, beyond its airport-to-airport footprint.
Tom Schmitt, Chairman, President and Chief Executive Officer, said, "By leveraging our existing Final Mile network, we are able to expand our LTL footprint at a greatly reduced investment. This type of organic growth allows Forward to bring expedited LTL into markets outside of our traditional coverage model – and we are excited to bring our world class expedited LTL offering to Columbia and Roanoke."
With the addition of expedited LTL, Forward connects Columbia and Roanoke to its national LTL network and its other transportation services. The Company now offers same-day pickup and delivery in Columbia and Roanoke, along with final mile delivery to bring products directly to customers’ homes.
About Forward Air Corporation
Forward Air Corporation (NASDAQ: FWRD) is a leading asset-light freight and logistics company. We provide less-than-truckload ("LTL"), final mile, truckload, intermodal drayage and pool distribution services across the United States and in Canada. Headquartered in Greeneville, Tennessee, Forward operates 93 terminals across the country and employs more than 5,200 people nationwide. We are more than a transportation company. As a single resource for your shipping needs, Forward is your supply chain partner. For more information, visit our website at www.forwardaircorp.com.
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This press release may contain statements that might be considered as forward-looking statements or predictions of future operations including with respect to the expected growth and future expansion of the Company’s network and footprint. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties including that the Company is not able to utilize existing final mile facilities to achieve planned synergies and expansion. Actual events may also differ from these expectations as a result of the risks identified from time to time in our filings with the Securities and Exchange Commission. You should consider the forward-looking statement contained herein in light of such risks. We assume no duty to update these statements as of any future date.
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