Forward Air Corporation (NASDAQ: FWRD) (the “Company or “Forward”) is executing a growth strategy that involves organic infrastructure investments as well as acquisitions of complementary businesses. Today Forward announced an organic growth initiative and it will now offer less-than-truckload (LTL) service in Savannah, Georgia.
Forward LTL will initially operate from the Company’s Final Mile facility in Savannah and will evaluate the future need for a separate location based on growth. With this expansion, Forward begins a larger 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, “This is an exciting time at Forward as we continue to flex our muscle. Savannah marks the first time that we have expanded our LTL network beyond our current airport-to-airport footprint. We are also leveraging our Final Mile network to greatly reduce the level of investment required for this LTL expansion. Savannah is a great example of the synergies within our networks that offer opportunities for growth.”
With the addition of LTL, the Company brings a full assortment of services to the Savannah market, including export pickup, import delivery, intermodal drayage, flatbed services and 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.
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 performance of the LTL service in Savannah is worse than anticipated and 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.