Forward Air Corporation (NASDAQ: FWRD) (the “Company” or “Forward”) is executing a growth strategy that involves organic infrastructure investments, such as its ongoing LTL network expansion, as well as inorganic investments, including acquisitions of complementary businesses. Today, Forward announced that it will now offer expedited less-than-truckload (LTL) along with pickup and delivery (PUD) services in Wichita, KS.
Forward LTL will cross-utilize space and resources with the Company’s Final Mile operation in Wichita to bring a larger service offering to the area. The new Wichita facility is Forward’s first LTL terminal in Kansas.
The cohabitation of Final Mile and LTL operations allows Forward to grow organically, with less investment than a traditional new market expansion. This expansion is part of Forward’s ongoing journey to evolve its national LTL network for broader market coverage, beyond its airport-to-airport footprint.
Tom Schmitt, Chairman, President and Chief Executive Officer, said, “As we continue to expand our national footprint, we look for opportunities to create efficiencies – and Wichita is a perfect example. We have a strong Final Mile presence throughout Kansas and high customer demand for LTL in the region, so we can flex our muscle and bring our world-class expedited LTL service to Wichita and the greater Kansas market.”
Forward enters the market as the fastest expedited LTL carrier in and out of Wichita. With a portfolio of premium freight management services in LTL, full truckload, intermodal drayage, and final mile delivery, Forward significantly improves freight options for businesses of every size and type in the Wichita region.
About Forward Air Corporation
Forward Air Corporation (NASDAQ: FWRD) is a leading asset-light freight and logistics company. We provide LTL, final mile, truckload and intermodal drayage services across the United States and in Canada. Headquartered in Greeneville, Tennessee, Forward operates approximately 200 facilities 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.
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 and the expected efficiencies and improvements in service resulting from cross-utilizing Final Mile and LTL terminals. 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 facilities to achieve planned synergies and expansion within the LTL space. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210510005804/en/
Contacts
Justin Moss
jmoss@forwardair.com
404-362-2472.
