Western Express Plans Initial Public Offering

By: Western Express

Transportation carrier Western Express filed for an initial public offering with the Securities and Exchange Commission on November 14. Western Express, which reaches over $220 million in annual revenue, plans to raise up to $90 million in the IPO and use the ticker symbol WEXP for trading on the Nasdaq?s National Market System. The company hauls dry vans and flatbeds and provides dedicated contract carriage primarily in the eastern United States.
The company made four acquisitions between 2000 and 2003, including Dixieland Express, Prostar Logistics and Prostar Carriers, J-Mar Trucking, and Deaton Inc. Western Express? Director of Recruiting, Matt Neal, reports the carrier currently has approximately 1,400 tractors in its fleet, with 80 provided by owner operators. The company recently replaced their entire fleet of tractors with 2004, 2005 and 2006 Volvo and Freightliners, making it one of the newest fleets in the country. They also recently opened new terminals in Virginia and Missouri.
Drivers stay pre-planned about 70% of the time and most average nearly 3000 miles each week.
Wayne Wise founded Western Express, based in Nashville, Tenn., in 1990. For more information on the company, call 1-877-316-7100 or visit the website at www.westernexp.com.