Trucking firms expanding, report growth
Trucking firms expanding, report growth
Created: Friday, July 13th, 2012 10:01 pm
Trucking firm Old Dominion Freight Line has plans to expand its network by opening new terminals in southern California and Florida part of a $120 million expansion project to increase business and better meet client demand. The expansion will call for increased fleet management resources and manpower as well.
The Journal of Commerce reported Old Dominion increased trucking revenue by 25.7 percent in 2011 year-over-year, enabling the carrier to explore significant growth and expansion in 2012. The trucking firm has 219 terminals nationwide, with plans to add several more in upcoming months. Old Dominion will be opening new service centers in Duluth and Benson, Minnesota, while expanding services at its Corpus Christi, Texas, and Erie, Pennsylvania, locations later this year. Old Dominion is one of many trucking companies expanding operations this year, along with FedEx Freight, YRC Freight and UPS Freight.
CNBC reported many trucking companies are finding unique ways to drive revenue. The American Trucking Group and Jacobson Companies are working together on a rent-to-own program, creating hundreds of new transportation industry jobs and boosting sales. The program will allow owner-operators to rent their trucks for a short period of time until they are able to purchase the vehicle outright. The rent-to-own plan will help truckers and soon-to-be truckers afford to start a business, providing a truck until they can buy one themselves.
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