Growth Press Release
May 12, 2010
CRST is Poised for Rapid Growth as Industry Truck
Capacity Shrinks and Freight
Despite what analysts predict to be a gradual improvement
in the economy as the country
emerges from the recession, CRST International is experiencing a significant
business in each of its operating subsidiaries. This week the company announced
1st quarter revenue was 17% ahead of
projections and 18% over 2009 1st quarter results.
“We’re hitting equipment utilization numbers that haven’t been seen in years, which
combined result of an industry truck capacity shortage and improving freight
from our major customers”, said Dave Rusch, President/CEO of CRST
“We are implementing accelerated growth plans in our operating subsidiaries,
include adding 700 incremental tractors and 1500 trailers over the next 18
“This $100 million capital expansion plan will help us meet growing demand by
customers”, said Rusch.
The three year recession has forced over 7,000 trucking companies into bankruptcy
caused many others to downsize their truck fleets. As a result, truck capacity is
considerably. CRST believes its debt free balance sheet and strong financial
allow it to capitalize on these improved freight conditions.
CRST International has seen record performance in three of its operating
CRST Van Expedited, Inc, the companies dry van subsidiary - CRST Malone, Inc,,
companies flatbed subsidiary and CRST Dedicated Services, Inc., the companies
dedicated truck subsidiary. “We’ve seen a considerable increase in business since
quarter of 2009, as a result of tightening capacity”, said
Rusch. “We believe as theconomy continues to improve the 2nd half of the year, our customers
will be looking at us to step up with additional truck capacity”.
The company will continue to build its infrastructure needed to meet its growth
In addition to equipment additions, CRST is building a $15 million terminal in Riverside, CA and
expanding its Cedar Rapids, IA training center. In addition, CRST is actively recruiting
administrative and management personnel to support their expansion plans.
CRST is currently ranked the 6th largest truckload carrier in the