Consolidated Freightways Invests in Its Future; Company Upgrades Fleet with New Trucks.

MENLO PARK, Calif.--(BUSINESS WIRE)--Sept. 29, 1999--

Consolidated Freightways (CF), one of the nation's largest freight transportation companies, is revitalizing its fleet operations with nearly $65 million of investments in new trucks and equipment.

Primarily a less-than-truckload (LTL) motor carrier, the $2.2-billion company's investments include:

-- More than $23 million for linehaul tractors (300 Freightliner model C112 tractors, and 30 Mack model CH612 tractors.

-- About $21 million for pickup and delivery tractors (400 Freightliner model FL70 tractors and 40 Sterling model 7500 tractors.)

-- Nearly $16 million for 200 AirRide linehaul doubles trailers; 470 pick-up and delivery 48' trailers; and 700 rebuilt converter dollies.

-- Approximately $4.5 million for related equipment, such as 232 Toyota forklifts and hostling tractor rebuilds.

"We're in our 70th year of operation, and this investment underscores an ongoing commitment to revitalize our resources, provide our customers and employees with a premier fleet, and reassert our position as a leader in the LTL industry," said Patrick Blake, president of CF. "This further enables us to keep enhancing service as our business grows."

The company based its equipment decisions in large part on discussions with a cross-section of drivers from across the company who were consulted on the features and accessories they preferred. "The drivers who directly operate this equipment are the best judges of the top tractors, trailers and accessories and other supplies required to run a premier fleet. That's why we rely heavily on their input for determining these major capital improvements," said Blake.

A significant amount of the purchases come from Freightliner Corporation, which was begun as a subsidiary of Consolidated Freightways in 1939. Freightliner was acquired from CF by Daimler-Benz in 1981.

Consolidated Freightways is a transportation company primarily providing LTL and logistics services throughout the United States, Canada and Mexico using its system of 350 terminals and 21,000 employees. The company also provides worldwide freight services between the United States and more than 80 countries, primarily through its international and logistics business units.