Overnite CEO Sees Growth For Company, Economy

December 8, 2003 7:30 AM, EST

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peaking publicly for the first time since less-than-truckload carrier Overnite Corp. became a publicly traded company Oct. 31, Chairman and Chief Executive Officer Leo Suggs said he remained “cautiously optimistic” about the outlook for trucking as the economy continued to improve.

Suggs said in an interview with Transport Topics that September through November had turned out to be “strong” months for the company as the retail sector, which accounts for 35% of Overnite’s business, was gearing up for solid holiday sales.

However, he said that despite that strength, Overnite was not planning to grow its fleet any faster than planned months earlier, before it launched an initial public offering of stock to spin off from former owner Union Pacific Corp., which operates the nation’s largest freight railroad.

This article appears in the Dec. 8 print edition of Transport Topics. Subscribe today.

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