Press Release

January 27, 2009
Estes' debt-free status a welcome sign in today's transportation market.

Richmond, VA—While the freight transportation industry has experienced substantial setbacks recently, Virginia-based Estes has remained a solid and dependable resource for its customers. “It would be impossible to remain untouched by the declining global and domestic economies,” said President and CEO Rob Estes. “But we're in a fairly unique position in the industry, which gives both the company and our customers some strong strategic advantages.” Estes went on to point out three major areas that help protect the company:

  1. Debt-free discipline that shields Estes from many of the credit woes facing others in the industry
  2. Privately held status that reduces the financial stress associated with stock-market swings and the need to satisfy special interests
  3. Eight-decade track record of stability that speaks to a level of dependability unsurpassed in the industry

Yet another strategic advantage for Estes is its operational structure and systems, which are designed to handle one- and two-day turns. “With inventories being reduced, fast cycle replenishment becomes even more important,” said Estes' COO and Executive VP Billy Hupp, “and we do that really well.”

Despite the relatively strong position, the company is not letting its guard down. “Because most economists are predicting that things will get worse before they get better, we are taking steps to become as efficient as possible to help hold the declining economy's effects to a minimum,” said Hupp. “By thinking smarter and working harder, we can remain a reliable resource for all of our customers.”

About Estes

Richmond, VA-based Estes is a full-service transportation provider offering coast-to-coast North American coverage. Founded in 1931 by W.W. Estes, the company is still owned and operated by the Estes family. During the past 78 years, Estes has grown from a small, local carrier into one of the most respected multiregional, less-than-truckload and truckload transportation systems in the country. Estes employs over 12,500 people and utilizes an inventory of more than 30,000 pieces of power equipment and trailers. With a network of 200 terminals, the company offers direct service to all 50 states, Puerto Rico and the Caribbean, all 10 Canadian provinces and virtually all of Mexico. More information about Estes' core services and coverage network is conveniently available on www.estes-express.com.