Covenant Acquires Part of Con-Way
August 22, 2000
Covenant Transport, Chattanooga, Tenn., has announced the purchase part of Con-Way Truckload Services, Fort Worth, Texas.
Covenant acquired CWT's customer list and driver files plus approximately 125 tractors and 200 trailers, and is also purchasing approximately one-third of CWT's 375 company-owned power units. In addition, Covenant will have the ability to sign on CWT's 160 owner-operators.
As part of the transaction, Covenant received long-term commitments for about $45 million in annual dedicated truckload shipments.