Wednesday September 24 3:51 PM EDT
Company Press Release
ABF Freight System, Inc. Does Not Plan Fall Price Increase
FORT SMITH, Ark., Sept. 24 /PRNewswire/ -- ABF Freight System, Inc. (Nasdaq:ABFS - news) announced today that it
does not plan to implement a general increase in its freight rates during the remainder of 1997. Consistent with earlier
statements, and in the absence of unusual circumstances, ABF will adjust its generally applicable prices no earlier than January
1998. ABF made its announcement in response to uncertainty among its customers and amid recent announcements from other
carriers.
Robert A. Davidson, Vice President - Marketing and Pricing of ABF, noted, ``In recent years, ABF has reviewed its rates once
a year, typically in January, to provide simplicity and stability for our customers. We previously announced that we planned to
maintain our current general rate scale through 1997. At the present time, we see no unusual cost or other factors that would
alter that commitment. During 1998, ABF will address cost increases that it has experienced in 1997 and that it foresees for next
year.''
ABF, with expected 1997 revenue of over $1.1 billion, is the largest subsidiary of Arkansas Best Corporation (Nasdaq:ABFS).
ABF is one of the nation's largest less-than-truckload motor carriers with service to all fifty states and Canada, plus Mexico,
Puerto Rico, and beyond.
SOURCE ABF Freight System, Inc. |
