J.B. Hunt Announces Purchase of Freightliner Trucks

27 August 1999

J.B. Hunt Transport Services, Inc. Announces Purchase of Freightliner Trucks to Exceed One Billion Dollars

    LOWELL, Ark.--Aug. 26, 1999--J.B. Hunt Transport Services, Inc. and Freightliner Corporation, a subsidiary of DaimlerChrysler AG , today announced a five-year exclusive agreement for the delivery of up to 15,000 trucks. J.B. Hunt will change all its highway tractors from cab-over-engine models to Freightliner Century Class conventionals. The truck purchase covers both expansion units and trade-ins and will include both over-the-road vehicles and local tractors. The deal is expected to exceed $1 billion.
    Citing driver preference and the Century Class' quality, appearance, superior warranty and excellent re-sale value, J.B. Hunt chose the Freightliner Century Class as its signature truck for the new millenium.
    "J.B. Hunt remains focused on improving driver comfort, prestige, job satisfaction and quality of life," said Hunt President and CEO Kirk Thompson. "The Freightliner Century Class will enhance J.B. Hunt's ability to attract drivers and retain a high quality workforce behind the wheel."
    Introduced in 1995, the Century Class is widely considered the pinnacle of North American truck technology. Designed for safety, comfort, aerodynamics, fuel efficiency and low cost of operation, the Century Class offers a 350,000-mile warranty.
    J.B. Hunt has specified the 70-Inch Raised Roof Century Class model, known for its spacious interior, comfort and convenience. The trucks will be powered by Cummins ISX and Detroit Diesel Series 60 engines.
    "The Century Class continues to be the truck of choice for leading North American truck fleets," said Freightliner President and CEO James L. Hebe. "Freightliner looks forward to a long and successful partnership with J.B. Hunt."
    Delivery of the first Century Class conventionals to J.B. Hunt will begin in mid-September of this year. J.B. Hunt is expected to take delivery of some 800 Century Class conventionals for the balance of 1999 and approximately 3,000 more in the year 2000.
    Freightliner will incorporate a portion of the traded-in Hunt COEs into its Legacy program, whereby the company harvests the engine, transmission and rear axles from a used cabover truck, remanufactures them, and combines them with a brand new cab and chassis. The resulting product is the Legacy Class, a Class 8 day cab conventional tractor. Legacy Class trucks are backed by a comprehensive warranty and Freightliner's extensive support services. J.B. Hunt will purchase an unspecified number of the Legacy Class tractors for its fleet.
    "With the Legacy Class, Freightliner has created a highly appealing product out of one with less value in the marketplace," Hebe said.
    Along with the Freightliner Century Class announcement, J.B. Hunt reported another significant change in policy. Beginning Labor Day Weekend, the company will begin permanently assigning individual tractors to specific drivers. Hunt officials said this action, in conjunction with the highest OTR driver compensation and most liberal time-off policy in the truckload industry, should allow J.B. Hunt to continue to attract and retain significant numbers of top quality professional drivers throughout the country.
    "The purchase of Freightliner's Century Class trucks, in concert with our other moves to enhance driver compensation and lifestyle, positions J.B. Hunt for future growth and success in the truckload segment," Thompson said.
    J.B. Hunt Transport Services, Inc., is a diversified transportation logistics company with revenues approaching $2 billion. Headquartered in Lowell, Arkansas, the company operates over 9,400 trucks, 38,000 trailers and containers and employs approximately 15,000 people. Using an integrated transportation logistics platform to provide solutions for their customers, J.B. Hunt provides services in Logistics Management, Dedicated Contract Services, Truckload and Intermodal.
    Freightliner Trucks is a division of Freightliner Corporation, headquartered in Portland, Oregon, and is the leading heavy truck manufacturer in North America. Freightliner Trucks produces and markets Class 5-8 trucks and is a DaimlerChrysler company, the world's leading commercial vehicle manufacturer.
    On the Internet visit J.B. Hunt Transport Services, Inc.'s Web site at www.jbhunt.com for additional J.B. Hunt information.
    Visit Freightliner Corporation's Web Site at www.freightliner.com for additional Freightliner news.