Knight-Swift Transportation Creates Iron Truck Services, Bringing Affordable Solutions Nationwide to Truckload Carriers of All Size

Rhea-AI Summary

Knight-Swift Transportation Holdings (NYSE:KNX) has launched Iron Truck Services to provide cost-effective solutions for transportation carriers. This new initiative offers essential services such as insurance, equipment maintenance, fuel purchasing, and truck sales and rentals. By leveraging the scale of Knight-Swift, Iron Truck Services aims to reduce operational costs for small carriers. The offerings include Iron Insurance, a free Fuel Program, Iron Maintenance, and Truck Sales & Rentals, designed to make wholesale prices accessible to all trucking businesses.

Positive

• Launch of Iron Truck Services providing essential affordable solutions for carriers.
• Bundled services include insurance, fuel programs, maintenance, and truck sales.
• Access to wholesale pricing for small carriers, enhancing cost efficiency.
• Significant growth in interest for insurance and maintenance services since 2020.

Negative

• None.

PHOENIX--(BUSINESS WIRE)-- Knight-Swift Transportation Holdings (NYSE:KNX) announced today that it has launched Iron Truck Services, an organization that brings together services essential to transportation carriers and includes insurance, equipment maintenance, fuel purchasing, and truck sales and rentals. Iron Trucks Services provides affordable solutions to truckload carriers by leveraging the scale and infrastructure of the nation’s largest carrier, Knight-Swift.

David Jackson, CEO of Knight-Swift commented, “Many small carriers have no choice but to pay retail prices for many fundamental business services. Iron Truck Services brings wholesale prices within reach for all trucking businesses, regardless of size.”

“Although we have offered fuel purchasing and truck sales programs for years, the insurance and maintenance services were just initiated in 2020 and have seen significant interest and growth. We are now excited to bundle these services in a simple and efficient way for our carrier customers through Iron Truck Services,” commented Ken Cranston, Vice President of Carrier Services.

Iron Truck Services includes the following offerings:

• IRON INSURANCE, which provides auto, general, and cargo liability insurance, as well as physical damage insurance options at affordable rates. All policies are supported by risk management services that promote safe operational practices for policyholders.
• IRON FUEL PROGRAM, which is a free membership program providing access to a discount network of over 1,500 fueling locations nationwide, with savings, credit lines, fuel tax filing, and other benefits.
• IRON MAINTENANCE, which offers wholesale prices, free DOT inspections, and maintenance services at 19 locations nationwide, with additional locations planned to open before the end of the year.
• IRON TRUCK SALES & RENTALS, which offers a wide selection of used, DOT qualified trucks and equipment at 30 locations nationwide.

For more information, visit irontruckservices.com.

Knight-Swift Transportation Holdings Inc. is one of North America's largest and most diversified freight transportation companies, providing multiple truckload transportation and logistics services, as well as LTL services through ACT. Knight-Swift uses a nationwide network of business units and terminals in the United States and Mexico to serve customers throughout North America. In addition to operating the country's largest tractor fleet, Knight-Swift also contracts with third-party equipment providers to provide a broad range of truckload services to our customers while creating quality driving jobs for our driving associates and successful business opportunities for independent contractors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210914005720/en/

David Jackson, President and CEO, or Adam Miller, CFO - (602) 606-6349

Source: Knight-Swift Transportation Holdings Inc.

FAQ

What is Iron Truck Services by Knight-Swift (KNX)?

Iron Truck Services is a new initiative by Knight-Swift that offers essential services for transportation carriers, including insurance, equipment maintenance, fuel purchasing, and truck sales and rentals.

How does Iron Truck Services benefit small trucking companies?

Iron Truck Services provides wholesale prices and bundled services, enabling small trucking companies to access cost-effective solutions previously available only at retail prices.

What services are included in Iron Truck Services?

Iron Truck Services includes Iron Insurance, a free Fuel Program, Iron Maintenance, and Truck Sales & Rentals.

When were the insurance and maintenance services introduced by Knight-Swift (KNX)?

The insurance and maintenance services were initiated in 2020 and have seen significant interest and growth since then.

Where can I find more information about Iron Truck Services?

More information can be found on the website irontruckservices.com.