Old Dominion Freight Announces Rate Increase
Old Dominion Freight Line, Inc. (Nasdaq: ODFL) has announced a general rate increase (GRI) of 4.9% applicable to rates established under the existing ODFL 559, 670, and 550 tariffs effective June 4th, 201
Todd Polen, Old Dominion’s Vice President of Pricing Services, commented, “At Old Dominion, we are committed to delivering our superior value proposition of on-time, claims-free service at a fair price. In order to satisfy our customers’ expectations and deliver on the promises we have made, we must continue to enhance our high-quality service network and systems. Our GRI will affect our class tariffs and is intended to partially offset the rising costs of new equipment, real estate, technology investments, and competitive employee wage and benefit packages. The GRI also provides for a nominal increase in minimum charges with respect to intrastate, interstate and cross border lanes.
Old Dominion Freight Line, Inc. is a leading, less-than-truckload (“LTL”), union-free motor carrier providing regional, inter-regional and national LTL services, which include ground and air expedited transportation and consumer household pickup and delivery through a single integrated organization.
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