SCS Transportation, Inc. Announces Exploration of Strategic Alternatives
January 24 2006 - 5:00PM
Business Wire
SCS Transportation, Inc. (NASDAQ: SCST) today announced that its
Board of Directors has decided to explore a range of strategic
alternatives to enhance shareholder value. Morgan Keegan &
Company, Inc. has been retained as financial advisor to advise the
Board in this process. The Company noted that there can be no
assurance that the exploration of strategic alternatives will
result in a transaction. The Company does not intend to disclose
developments with respect to the exploration of strategic
alternatives unless and until the Board of Directors has approved a
specific transaction or course of action. SCS Transportation, Inc.
provides trucking transportation and supply chain solutions to a
broad base of customers across the United States. With annual
revenue of $1.1 billion, the Company focuses on regional and
interregional less-than-truckload (LTL), and selected truckload
(TL) and time-definite services. Operating subsidiaries are Saia, a
multi-region LTL carrier based in Duluth, Ga., and Jevic, a hybrid
LTL and truckload carrier based in Delanco, N.J. Headquartered in
Kansas City, Mo., SCST has approximately 9,000 employees
nationwide. The Securities and Exchange Commission encourages
companies to disclose forward-looking information so that investors
can better understand the future prospects of a company and make
informed investment decisions. This news release contains these
types of statements, which are "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as "anticipate," "estimate," "expect," "project,"
"intend," "may," "plan," "predict," "believe" and similar words or
expressions are intended to identify forward-looking statements.
Investors should not place undue reliance on forward-looking
statements, and the Company undertakes no obligation to publicly
update or revise any forward-looking statements. All
forward-looking statements reflect the present expectation of
future events of our management and are subject to a number of
important factors, risks, uncertainties and assumptions that could
cause actual results to differ materially from those described in
any forward-looking statements. These factors and risks include,
but are not limited to, general economic conditions; the effects
and outcomes of strategic evaluations; cost and availability of
qualified drivers, fuel, purchased transportation, property,
revenue equipment and other operating assets; governmental
regulations, including but not limited to Hours of Service, engine
emissions, compliance with recent legislation requiring companies
to evaluate their internal control over financial reporting and
Homeland Security; dependence on key employees; inclement weather;
labor relations; integration risks; effectiveness of
company-specific performance improvement initiatives; competitive
initiatives and pricing pressures; terrorism risks; self-insurance
claims, equity-based compensation and other expense volatility; the
Company's determination from time to time whether to purchase any
shares under the repurchase program; and other financial,
operational and legal risks and uncertainties detailed from time to
time in the Company's SEC filings.
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