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ARROW TRANSPORTATION FILES INITIAL PUBLIC OFFERING

 PORTLAND, Ore., June 14 /PRNewswire/ -- Arrow Transportation Co. today announced the filing of a Registration Statement with the Securities and Exchange Commission covering an initial public offering of 1,000,000 shares of common stock. Proceeds to the company from the offering will be used to purchase revenue equipment, repay bank borrowings, redeem preferred stock and for working capital. The shares are anticipated to trade on the NASDAQ system under the symbol ARRW and are expected to be offered in the range of $5 to $6 per share. Pacific Crest Securities Inc. will manage the proposed 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, Ore., and operates out of terminal facilities located in Portland, Ore., Longview, Tacoma, Pasco and Spokane, Wash., and Richmond and Downey, Calif.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This (communication) shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 6/14/93
 /CONTACT: William J. Stanners Jr., chief financial officer, of Arrow Transportation, 503-286-3661/
 (ARRW)


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

SW-AL -- SE006 -- 1435 06/14/93 08:50 EST
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Publication:PR Newswire
Date:Jun 14, 1993
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