J.B. Hunt Transport Services, Inc. Announces Eastern Rail Deal
Business Wire- 11/5/2009 3:05:00 PM EST
J.B. Hunt Transport Services, Inc. Announces Eastern Rail Deal
( BW)(AR-J.B.-HUNT-TRANSPORT)(JBHTNSC.NASDAQNYSE) J.B. Hunt Transport Services, Inc. Announces Eastern Rail Deal
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) announced today that it
has reached an agreement with Norfolk Southern Corp. (NSC) to develop a
new intermodal transportation contract to provide both parties a
platform to accelerate the conversion of traditional truck traffic to
cost effective, environmentally friendly intermodal transportation with
service that is competitive with truckload moves. This multi-year
agreement will further establish the parties as the leading providers of
transcontinental and local intermodal service in the eastern half of the
United States.
“Given the enormous confidence we have in the Norfolk Southern’s ability
to provide the best intermodal service in the Eastern half of the U.S.
and the obvious commitment NSC has made by the significant investments
in their corridor development, we are delighted to have the opportunity
to elevate our joint services into the future,” said Kirk Thompson, CEO
of JBHT. “This new agreement will provide unparalleled intermodal
service and value for U.S. shippers. The conversion of highway freight
to the more efficient, cost effective, safer and more environmentally
friendly services that we jointly provide, will not only benefit
shippers and the general public, but JBHT and NSC shareholders alike.”
“Our new services with J.B. Hunt will provide shared incentives to grow
volume and revenues by converting substantial volumes of freight from
highway to rail,” said Norfolk Southern CEO Wick Moorman. “We look
forward to working with the J.B. Hunt team to offer new, high-speed,
reliable, premium services to domestic intermodal customers over our
entire network, including our new Crescent Corridor route, from New
England, northern New Jersey and Pennsylvania south to Memphis and New
Orleans. This strengthened relationship between NSC and JBHT will offer
significant benefits to shippers, communities, states and the country by
reducing highway congestion, fuel consumption and emissions.”
This press release may contain forward-looking statements, which are
based on information currently available. Actual results may differ
materially from those currently anticipated due to a number of factors,
including, but not limited to, those discussed in Item 1A of our Annual
Report filed on Form 10-K for the year ended December 31, 2008. We
assume no obligation to update any forward-looking statement to the
extent we become aware that it will not be achieved for any reason. This
press release and related information will be available immediately to
interested parties at our web site, www.jbhunt.com.
About J.B. Hunt
J.B. Hunt Transport Services, Inc. focuses on providing safe and
reliable transportation services to a diverse group of customers
throughout the continental United States, Canada and Mexico. Utilizing
an integrated, multimodal approach, we provide capacity-oriented
solutions centered on delivering customer value and industry-leading
service.
Our stock is traded on NASDAQ under the ticker symbol JBHT and is a
component of the Dow Jones Transportation Average and the NASDAQ-100
Index. For more information about our Company, visit www.jbhunt.com.
About Norfolk Southern Corporation
Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier
transportation companies. Its Norfolk Southern Railway subsidiary
operates approximately 21,000 route miles in 22 states and the District
of Columbia, serves every major container port in the eastern United
States, and provides efficient connections to other rail carriers.
Norfolk Southern operates the most extensive intermodal network in the
East and is a major transporter of coal and industrial products.
CONTACT:
J.B. Hunt Transport Services, Inc.
Kirk Thompson, 479-820-8111
President
and Chief Executive Officer
KEYWORDS: United States North America Arkansas
INDUSTRY KEYWORDS: Transport Rail Trucking Logistics/Supply Chain Management Automotive Other Automotive
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