Swift History - Swift Transportation Corporation

Swift Transportation
History
SWIFT, AN AMERICAN DREAM…
THE FOUNDATION
OF
Jerry Moyes
Carl Moyes
1940’s: Carl Moyes
drives for C.R.
England hauling
produce out of
northern Utah
(Jerry’s Father)
1940’s
CR England Produce truck
Betty
and
Carl Moyes
1950’s
1950s: Betty and
Carl Moyes started a
small trucking
company in Plain
City, UT, B & C Truck
Leasing
Jerry worked with his father and
mother before and during his
enrollment at Weber State
University in the 1950’s and 1960’s
1966: Common Market
founded by Carl and Jerry
Moyes with one truck
Carl
and
Betty Moyes
(1955)
1966
1966: Common Market
founded by Carl and Jerry
Moyes with one truck
Paula Moyes,
1968 Kenworth
1966
After Jerry’s graduation from Weber State University in 1966, Jerry married
Vickie and moved to Phoenix, AZ. Jerry and Vickie, along with Jerry Godell,
started Common Market Distributing Corp. In 1968 Brother Ronald Moyes,
and Randy Knight, joined Common Market and moved to Los Angeles soon
after. Later that year, Carl and Betty moved to Phoenix and become more
involved with the business
•Common Market 1966-1970
•Swift purchased in 1968 to present
•Some of our early customers
•Common Market Trading Company
•American Fence Co.
•Marathon Steel
•CF&I Steel
•Roofing Wholesale
•Swift Fresh Meat Company
•Interstate commerce commission from 1966-1980
Revenue 1966-1980
$16,000,000
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
Jimmy Carter
1980: Trucking
deregulation
1980
The Motor Carrier Act of 1980 freed up the
trucking market to permit much more
flexible pricing and service arrangements –
Signed by Jimmy Carter
Revenue and Truck Count 1980-1990
Revenue 1980-1990
$180,000,000
$160,000,000
$140,000,000
$120,000,000
$100,000,000
$80,000,000
$60,000,000
$40,000,000
$20,000,000
$-
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1987
1988
1989
1990
Truck Count 1980-1990
1400
1200
1000
800
600
400
200
0
1980
1981
1982
1983
1984
1985
1986
Swift History
Old PHX terminal est. 1980
1986
1986: Jerry Moyes
elected Chairman
and CEO at Swift
Truck Trailers purchased in ‘84
Swift History
10 terminals
~1983
1984 Revenue = $25 million
1986
Swift History
Shop (trucks 124, 232)
1986
In April 1988 Swift purchased
Greenville, SC based Cooper
Motor Lines from Philadelphia,
PA based ARA Services
Swift History
1988
1988: Acquired Cooper
Motor Lines to
penetrate East Coast
Swiftfoundation
History
The
of Swift - flatbed
In the ’80’s Swift was
hauling everything but sail
boat fuel!
1988
Swift History
Old Wilmington Terminal “Airbrushed”
1988
1990: Initial
Public Offering
1990
By 1990, Swift Transportation has
grown to a $156 million carrier with
over 1300 trucks. The company did an
IPO June 29, 1990 and became a
publicly traded entity on the NASDAQ
market system under the symbol
“SWFT”. Raised $22 million in capital
($12.50 price)
In 1991, with money raised in the IPO,
Swift bought Stephens City, VA based
Arthur H. Fulton Inc. for $9 million dollars.
Fulton was in Chapter 11 at the time.
1990
Swift History
Swift grew rapidly and
had continued since
1988 with the purchasing
of (13) different motor
carriers throughout the
United States.
1990
1994: Acquired Missouri Nebraska
Xpress to establish Mid-west
footprint and continued acquisitions
throughout the 90’s
2000
Swift History
Continued Acquisitions
throughout the 90’s with
Cardinal Freight Carriers,
East-West and West Best
1990
2000
It was a whole new ball game with Swift (1995)
Swift History
2000
2000: Acquired 49% of
Trans-Mex, Digby, EastWest Transportation, and
Direct Transit
Revenue and Truck Count 1990-2000
Revenue 1990-2000
$2,500,000,000
$2,000,000,000
$1,500,000,000
$1,000,000,000
$500,000,000
$1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
Truck Count 1990-2000
12000
10000
8000
6000
4000
2000
0
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
Swift acquires Memphis, TN based MS Carriers, which remains the largest
acquisition to date
2001
2001: Acquired M.S.
Carriers to expand
East Coast footprint
Swift History
2003: Acquired Merit
Distribution Services to
expand Wal-Mart grocery DCs
2004: Acquired
remaining 51% of
Trans-Mex
2009
Acquisitions… to date
2003: Acquired Merit
Distribution Services to
expand Wal-Mart grocery DCs
Swift History
1966: Common Market
founded by Carl and Jerry
Moyes with one truck
1940’s: Carl Moyes
drives for C.R.
England hauling
produce out of
northern Utah
1940’s
1990: Initial
Public Offering
1980: Trucking
deregulation
1950’s 1966
1950s: Betty and
Carl Moyes started a
small trucking
company in Plain
City, UT, B & C Truck
Leasing
1994: Acquired
Missouri Nebraska
Xpress to establish
Mid-west footprint
1990
1986: Jerry Moyes
elected Chairman
and CEO at Swift
1988: Acquired Cooper
Motor Lines to
penetrate East Coast
2004: Acquired
remaining 51% of
Trans-Mex
2005: Began Intermodal
Container Business
2009
2000
2000: Acquired
49% of Trans-Mex
2007: Jerry Moyes
acquires all
outstanding shares
2001: Acquired M.S.
Carriers to expand
East Coast footprint
2009: Richard
Stocking named
President
Swift Today
Swift Today
Executive Management Team
Thank You
Questions?
[email protected]
Director of Marketing