FAF, Inc. Announces Rate Increase for Independent Contractors

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GREENEVILLE, Tenn.--(BUSINESS WIRE)-- Forward Air Corporation (the “Corporation”)(NASDAQ:FWRD) today announced that its wholly-owned subsidiary, FAF, Inc. (“FAF”), is increasing rates for its independent contractor owner-operators, effective October 1, 2017. Under the new rate package, FAF owner-operators providing services to the Corporation’s Truckload Premium Services segment (“TLS”) will receive a ten cent per loaded mile increase, while FAF owner-operators providing services to the Corporation’s Expedited LTL segment will receive a three cent per loaded mile increase.

Commenting on the rate increase, Bruce A. Campbell, Chairman, President and CEO, said, “We depend on the excellent service and capacity that our owner-operators provide to us. This rate increase not only rewards our current owner-operators, but we also believe it is critical to our ability to attract new independent contractors to FAF.”

FAF also offers additional incentives to its owner-operators, including but not limited to, incentives for length of service, new equipment and license endorsements. To learn more about becoming an owner-operator for FAF, please call 1-800-496-4696.

About Forward Air Corporation

Forward Air keeps your business moving forward by providing services within four business segments: Expedited LTL (provides expedited regional, inter-regional and national LTL services, including local pick-up and delivery, shipment consolidation/deconsolidation, warehousing, and customs brokerage by utilizing a comprehensive national network of terminals); Truckload Premium Services (provides expedited truckload brokerage, dedicated fleet services, as well as high-security and temperature-controlled logistics services); Intermodal (provides first-and last-mile high-value drayage services both to and from seaports and railheads, dedicated contract and Container Freight Station warehouse and handling services); and Pool Distribution (provides high-frequency handling and distribution of time sensitive product to numerous destinations within a specific geographic region). For more information, visit our website at https://www.forwardaircorp.com.

This press release may contain statements that might be considered as forward-looking statements or predictions of future operations. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties. Actual events may differ from these expectations as specified from time to time in filings with the Securities and Exchange Commission. We assume no duty to update these statements as of any future date.

Forward Air Corporation
Michael J. Morris, 404-362-8933
mmorris@forwardair.com

Source: Forward Air Corporation

Released September 7, 2017