Business
Forward Air Grows Columbus Hub With $40 Million Real Estate and Facilities Development
COLUMBUS, Ohio--(BUSINESS WIRE)-- Forward Air Corporation (NASDAQ: FWRD) (the “Company or “Forward”) is executing a growth strategy that involves organic
About this update from Forward Air Corporation
[{"type":"text","content":" COLUMBUS, Ohio--(BUSINESS WIRE)--\nForward Air Corporation (NASDAQ: FWRD) (the “Company or “Forward”) is executing a growth strategy that involves organic infrastructure investments as well as acquisitions of complementary businesses. Today, Forward announces an organic investment to expand the capacity of its national hub in Columbus, Ohio (CMH) by approximately 30 percent.\n\n\nOriginally constructed in 1994, CMH serves as the central hub for Forward’s less-than-truckload (LTL) network, generating freight flow efficiencies that help enable the Company’s industry-leading transit times. However, Forward’s rapid growth in recent years has exceeded capacity at CMH, creating the need for additional investment. The Company recently purchased 11 acres adjacent to the terminal for $9.5 million that it will redevelop to achieve this capacity expansion.\n\n\nWith a total project investment of $30 – $40 million (including land) through late 2022, Forward’s redevelopment initiative will increase CMH by an additional 35 doors, expand its yard for improved driver parking and trailer storage and create a campus environment with a dedicated national support center for driver recruitment, training and support. Forward currently operates six facilities in the Columbus area, many of which will be centralized in the new CMH campus, including Forward’s growing Truckload Brokerage operations.\n\n\nChris Ruble, Chief Operating Officer, said, “Columbus is one of the fastest-growing cities in the United States and home to our largest terminal – as well as 550 Forward employees. With this investment, we are making a commitment to grow with Columbus.”\n\n\nForward’s CMH facilities serve as the base of operations for the Company’s LTL, truckload, safety and talent acquisition teams, among others.\n\n\nTom Schmitt, President, Chairman and CEO, said, “Forward has been serving the Columbus market for the past 30 years, and this investment allows us to increase our capacity, grow our team and deliver world class service as a fixture in the local economy and nationally for years to come. We are thrilled to expand our home in Columbus.”\n\n\nForward acts a supply chain partner and a single resource for customers’ shipping needs. Visit www.forwardaircorp.com for more information.\n\n\nEDITOR’S NOTE\n\n\nForward Air Corporation (NASDAQ: FWRD) is a leading asset...