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ROADWAY SERVICES ANNOUNCES ACQUISITION OF COLE ENTERPRISES

 ROADWAY SERVICES ANNOUNCES ACQUISITION OF COLE ENTERPRISES
 AKRON, Ohio, March 13 /PRNewswire/ -- Roadway Services, Inc. (NASDAQ: ROAD) announced today the signing of a contract to purchase all of the common stock of family-owned Cole Enterprises, including Coles Express, a New England regional motor carrier. The transaction is subject to approval by the Interstate Commerce Commission and other regulatory bodies. The purchase price was not disclosed.
 Cole will continue to be operated by its present management. Once the regulatory approvals are obtained, Cole's management will report to Randolph C. Bangham, chairman and president of Viking Freight, Inc., and Coles Express will become part of Roadway Services' regional carrier group. Other carriers in the regional group include Viking Freight System, serving the west, and Spartan Express, serving the south and central states.
 Revenue for Cole Enterprises in 1991 was $31.9 million. Coles Express serves customers in Maine, Massachusetts, New Hampshire and Vermont through six terminals.
 "The acquisition of Coles, recognized as one of New England's finest and oldest motor carriers, will provide Coles with additional resources to continue to better serve its regional customers," said Bangham.
 The company's headquarters will remain in Bangor, Maine, he added.
 Roadway Services also owns Roadway Express, Inc., one of the nation's largest motor carriers; Roadway Package System, Inc., a carrier serving shippers in the small package market; Roberts Express, Inc., a critical shipment carrier; and Roadway Logistics Systems, Inc., which provides contract logistics services.
 -0- 3/13/92
 /CONTACT: D.A. Wilson of Roadway Services, Inc., 216-384-2378/
 (ROAD) CO: Roadway Services, Inc. ST: Ohio IN: TRN SU: TNM


KK -- CL002 -- 7664 03/13/92 08:49 EST
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Publication:PR Newswire
Date:Mar 13, 1992
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