After 70 years in the freight hauling business, Portland, OR, based Silver Eagle Inc. has closed its doors. The company cited several problems, including the recent runup in fuel prices, computer problems, and rising labor costs.

Silver Eagle was founded in 1930 by C. Julius Gaussoin. It was a produce hauler and tanker service until the late 1950s when Gaussoin's sons took over and began hauling LTL freight. Silver Eagle Manufacturing, which makes cargo trailers, was spun off in 1996 and is not affected by the carrier closure.
Silver Eagle had 450 employees, including 200 drivers. It operated 15 terminals in Oregon, Washington, California and British Columbia. Assets will be liquidated over the next few months to pay more than $1 million owed to creditors, including fuel suppliers and repair shops.