Knight Transportation, Inc. and Swift Transportation Company Merge to Create North America's Premier
Truckload Transportation Company
Knight-Swift Transportation Holdings Inc. ("Knight-Swift" or the "Company") (NYSE: "KNX") announced today the completion of the
merger of Knight Transportation, Inc. and Swift Transportation Company. The Company will maintain the distinct Knight and Swift
brands and operations while implementing best practices across the enterprise.
Executive Chairman, Kevin P. Knight, commented on the merger as follows: "We are pleased to welcome all stakeholders to
Knight-Swift. The timing of the transaction could not be more favorable for addressing the supply chain, regulatory, and
demographic challenges facing our industry, and we are excited to bring to market the capabilities of these two great
companies."
Mr. Knight offered the following commentary regarding post-merger expectations: "The Company's post-merger strategy emphasizes
stability and opportunity for customers, driving associates, and non-driving associates. Customers will continue to receive
outstanding service under their existing Swift or Knight customer relationships. Driving associates and independent contractors
will continue to operate their existing Swift or Knight branded equipment, with their existing locations, fleet managers, and other
contacts.
“Knight-Swift is the largest provider of truckload services in North America, with an asset-based fleet of approximately 23,000
tractors and 77,000 trailers, and access to substantial additional capacity through our brokerage and intermodal capabilities. As
one of the industry’s largest sources of education and training for new truck drivers, the Company will also help add an estimated
15,000 to 20,000 new drivers to the industry in the next year. With over 70 terminals between Knight and Swift, we also offer a
broad platform of opportunity. Customers will continue to receive the benefits of local or regional trucking capacity available
from each terminal network, with accountable customer service, operations, and other personnel in more places than ever, with more
equipment than ever.
“We are excited for the opportunities ahead for both companies. The Knight and Swift teams are learning from each other to
jointly build the most efficient and reliable truckload company in the industry. The cost savings opportunities are at least as
great as expected. The synergy teams are energized to move from planning to implementation. We appreciate the efforts of all of our
team members to get us to this point and look forward to a bright future."
About Knight-Swift
Knight-Swift, through its Knight Transportation, Swift Transportation, and Barr-Nunn branded subsidiaries, operates the largest
truckload fleet in North America as well as extensive rail intermodal and non-asset based freight brokerage and logistics
management services. The Company's broad suite of services includes irregular route, dedicated, expedited, port drayage, and
cross-border U.S./Mexico/Canada transport utilizing dry van, refrigerated, flatbed and specialized trailers, and intermodal
containers.
Forward Looking Statements
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, relating to
anticipated benefits of the transaction, and such statements are subject to the safe harbor created by those sections and the
Private Securities Litigation Reform Act of 1995, as amended. All statements, other than statements of historical or current fact,
are statements that could be deemed forward-looking statements. Forward-looking statements are based on currently available
operating, financial, and competitive information. Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those
set forth in, contemplated by, or underlying the forward-looking statements. Readers should review and consider the factors that
may affect future results and other disclosures by the Knight, Swift, and Knight-Swift in their press releases, stockholder
reports, Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. We expressly disclaim any
obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein.
Knight-Swift Transportation Holdings Inc.
David Jackson
President and CEO
or
Adam Miller
CFO
602-606-6315
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