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ARROW TRANSPORTATION ANNOUNCES COMPLETION OF INITIAL PUBLIC OFFERING

 PORTLAND, Ore., July 22 /PRNewswire/ -- Arrow Transportation Co. (NASDAQ: ARRW) today announced it completed an initial public offering of 1,000,000 shares of its common stock. The stock was issued at $5 per share and commenced trading today on the NASDAQ National Market System under the symbol ARRW. Proceeds from the offering will be used to finance the purchase of new revenue equipment, repay bank borrowings, redeem preferred stock and for working capital. Pacific Crest Securities Inc. of Portland managed the underwriting syndicate.
 Arrow Transportation Co. is engaged primarily in the intrastate and interstate transportation of bulk liquid chemical products. The company serves a wide variety of manufacturing and industrial users in the Pacific Northwest section of the United States, California and western Canada. Arrow has interstate common and contract authority in 49 states and intrastate operating authority in Washington, Oregon, California and Idaho. The company maintains its headquarters in Portland and operates out of terminal facilities located in Portland; Longview, Tacoma, Pasco and Spokane, Wash.; and Richmond and Downey, Calif.
 -0- 7/22/93
 /CONTACT: William J. Stanners, Jr., chief financial officer, of Arrow Transportation, 503-286-3661/
 (ARRW)


CO: Arrow Transportation Co. ST: Oregon IN: TRN SU:

SB-AL -- SE012 -- 4562 07/22/93 12:47 EDT
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Publication:PR Newswire
Date:Jul 22, 1993
Words:207
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