Forward Air Corporation Announces New LTL Service Offering in Vancouver
Forward Air Corporation (NASDAQ: FWRD) is pursuing a growth strategy involving both organic and inorganic investments. The company recently announced the expansion of its expedited less-than-truckload (LTL) service into Vancouver, BC, partnering with a local entity. This move positions Forward as the leading expedited carrier in Western Canada, further strengthening its network after opening over twenty facilities in 2021. CEO Tom Schmitt emphasized improved freight clearance and reduced transit times, connecting Western Canada with robust U.S. and Canadian freight management services.
- Expansion of expedited LTL service in Vancouver enhances regional connectivity.
- More than twenty new facilities opened in 2021 indicate strong network growth.
- Reduction in transit times expected to improve customer satisfaction.
- Risks associated with the new service performance may underperform expectations.
- Uncertainties regarding the ability to achieve planned expansion goals.
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 expand its expedited less-than-truckload (LTL) service in Vancouver, BC.
Using a local partner, Forward now offers expedited LTL service in and out of Vancouver. The Company has opened more than twenty facilities in 2021 – a sign of its continued network expansion. Forward enters the market as the fastest expedited carrier servicing Western Canada.
Tom Schmitt, Chairman, President and Chief Executive Officer, said, “Opening Vancouver allows us to improve freight clearance procedures, which means reduced transit times for our customers. From this facility, we can transfer through Seattle and meet our current expedited schedule servicing the lower 48 states. We are also supporting regional business with a world class pickup and delivery service.”
With the addition of direct expedited LTL service, Western Canada is now connected to Forward’s US and Canadian networks, and its full portfolio of premium freight management services in LTL, full truckload, intermodal drayage and final mile delivery.
About Forward Air Corporation
Forward Air Corporation (NASDAQ: FWRD) is a leading asset-light freight and logistics company. We provide LTL, final mile, truckload, intermodal drayage and pool distribution services across the United States and in Canada. Headquartered in Greeneville, Tennessee, Forward operates approximately 200 facilities across the country and employs more than 4,000 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 Vancouver is worse than anticipated and that the Company is not able to achieve its planned 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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