ADAMS RESOURCES & ENERGY, INC. ANNOUNCES OPENING OF NEW SERVICE TRANSPORT TERMINAL LOCATION
Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) announces the opening of its 20th terminal in Pittsburgh, PA, through its subsidiary, Service Transport Company. This facility enhances Service Transport's capacity in the Northeast U.S., driving potential revenue and profitability growth. Over four years, Service Transport expanded from six terminals in three Gulf Coast states to twenty locations in eleven Eastern states. This new terminal will facilitate local recruitment and operational efficiency.
- Expansion to 20 terminals strengthens market presence.
- New facility offers revenue and profitability growth opportunities.
- Local recruitment support enhances operational capabilities.
- None.
HOUSTON, Sept. 1, 2022 /PRNewswire/ -- Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) ("Adams" or the "Company") today announces that its subsidiary, Service Transport Company ("Service Transport"), has opened its 20th terminal which is located in the Pittsburgh, PA area. This new facility will offer Service Transport's clients additional resources in the Northeast area of the U.S., providing additional opportunities for revenue and profitability growth, while serving as a base of operations for recruiting in the immediate area. Over the last four years, Service Transport has grown from six terminals in three states along the Gulf Coast to twenty facilities in eleven states on the eastern half of the U.S. This new facility will be located at the Express Container Services facility at 3505 Grand Ave, Pittsburgh, PA 15225.
Wade Harrison, President of Service Transport, commented, "We are very excited about the opportunities that this market presents for our driver force and our company."
"I am pleased to see the Service Transport team continue to execute on the strategic plans surrounding our transportation business," said Kevin Roycraft, Adams' Chief Executive Officer and President.
About Adams Resources & Energy, Inc.
Adams Resources & Energy, Inc. is engaged in crude oil marketing, transportation, terminalling and storage, tank truck transportation of liquid chemicals and dry bulk and recycling and repurposing of off-spec fuels, lubricants, crude oil and other chemicals through its subsidiaries, GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, L.L.C., GulfMark Terminals, LLC, Phoenix Oil, Inc., and Firebird Bulk Carriers, Inc. For more information, visit www.adamsresources.com.
Cautionary Statement Regarding Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "intend," "plan," "project," "estimate," "continue," "potential," "should," "could," "may," "will," "objective," "guidance," "outlook," "effort," "expect," "believe," "predict," "budget," "projection," "goal," "forecast," "target" or similar words. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, and any other risk factors included in Adams' reports filed with the Securities and Exchange Commission. However, there can be no assurance that such expectation or belief will result or be achieved. Unless legally required, Adams undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact
Tracy E. Ohmart
EVP, Chief Financial Officer
(713) 881-3609
Investor Relations Contact
Gary Guyton or Steven Hooser
Three Part Advisors
(214) 442-0016
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SOURCE Adams Resources & Energy, Inc.
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