OMAHA, Neb.--(BUSINESS WIRE)--Jul. 18, 2014--
Werner Enterprises (NASDAQ: WERN), a premier transportation and
logistics company, is pleased to announce that its Werner Global
Logistics subsidiary has signed an agreement in principle to make an
equity investment in Hercules Logistics Co., Ltd., a rapidly growing and
successful logistics and asset-based transportation company that
maintains its corporate headquarters in Shenzhen, China, and is listed
on the Chinese NEEQ stock exchange.
“We couldn’t be more excited to invest in and partner with one of the
best transportation and logistics firms in China,” said Derek Leathers,
Werner’s president and chief operating officer. “Throughout the last six
years, we have expanded our business relationship and worked closely
with Ken Mei, chairman and CEO of Hercules, and his management team. We
understand the needs of our customers to better manage their supply
chains involving the Asian market, as well as their desire to further
expand into China’s growing domestic market. The strategic and
operational fit between Werner and Hercules creates a compelling
asset-based solution to our customers’ needs. We are impressed with
Hercules’ operational execution, innovation and corporate vision. We see
outstanding opportunities going forward to work with Hercules to provide
industry-leading, global supply chain solutions to shippers.”
“We are very happy to formalize our long-standing relationship and
operations with Werner Global Logistics,” said Ken Mei, chairman and CEO
of Hercules. “The customers of Hercules and Werner now have a combined
asset-based international capability that is unique in the marketplace.
We see significant opportunities to serve our diverse customer base,
particularly in North America, with Werner as an integrated part of our
global network. I am impressed with the long history of Werner’s success
and its continued commitment to China and international logistics. I
look forward to expanding our relationship with Werner to serve our
customers.”
Hercules, founded in 2001, is one of the largest and fastest growing
logistics companies in China. Hercules is recognized as one of the top
100 logistics companies in China and the most competitive and innovative
brand in Shenzhen. Hercules is steadily transforming into a total
logistics solution provider while maintaining the leading position of
execution capability. Hercules provides logistics and transportation
services in the areas of long haul and port dray trucking services,
forwarding and freight management, contract logistics, integrated supply
chain, warehouse distribution and customs brokerage.
Werner entered China’s transportation and logistics market in 2006 when
Werner Global Logistics (Shanghai) Co., Ltd. was formed. In the last
eight years, Werner Global Logistics has fully developed and expanded
its international freight forwarding, NVOCC operations, air freight,
warehouse management, purchase order and vendor management programs,
customs brokerage and domestic Chinese ground transportation services.
The combined network of Werner Global Logistics and Hercules will
represent more than 20 office, warehouse and logistics centers in China
and a combined network of over 1,000 trucks operating in China and
approximately 7,100 trucks and over 23,000 trailers operating within
North America.
To date, both Hercules and Werner Global Logistics have grown
organically and provide customers with logistics solutions through
proprietary supply chain management platforms. The integration of the
comprehensive Hercules Chinese logistics platform and Werner’s global
supply chain management system will provide one of the most
comprehensive door-to-door logistics platforms available.
Werner Enterprises, Inc. was founded in 1956 and is a premier
transportation and logistics company, with coverage throughout North
America, Asia, Europe, South America, Africa and Australia. Werner
maintains its global headquarters in Omaha, Nebraska and maintains
offices in the United States, Canada, Mexico, China and Australia.
Werner is among the five largest truckload carriers in the United
States, with a diversified portfolio of transportation services that
includes dedicated van, temperature-controlled and flatbed;
medium-to-long-haul, regional and local van; and expedited services.
Werner's Value Added Services portfolio includes freight management,
truck brokerage, intermodal, and international services. International
services are provided through Werner’s domestic and global subsidiary
companies and include ocean, air and ground transportation; freight
forwarding; and customs brokerage.
Werner Enterprises' common stock trades on the NASDAQ Global Select
MarketSM under the symbol “WERN”. For further information
about Werner, visit the company’s website at www.werner.com.
Hercules Logistics’ common stock trades on the Chinese NEEQ stock
exchange under the symbol 430377. For further information about
Hercules, visit the company’s website at www.hercules-logistics.com.
In a separate matter, Werner Enterprises will release its second quarter
2014 earnings on Monday, July 21, before the opening of the stock market
and prior to holding its 29th Annual Transportation Forum for
customers and business partners on July 21.
This press release may contain 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, and made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended. Such forward-looking
statements are based on information presently available to Werner
Enterprises’ management and are current only as of the date made. Actual
results could also differ materially from those anticipated as a result
of a number of factors, including, but not limited to, those discussed
in Werner Enterprises’ Annual Report on Form 10-K for the year ended
December 31, 2013.
For those reasons, undue reliance should not be placed on any
forward-looking statement. Werner Enterprises assumes no duty or
obligation to update or revise any forward-looking statement, although
it may do so from time to time as management believes is warranted or as
may be required by applicable securities law. Any such updates or
revisions may be made by filing reports with the U.S. Securities and
Exchange Commission, through the issuance of press releases or by other
methods of public disclosure.
Source: Werner Enterprises, Inc.
Werner Enterprises
John J. Steele, 402-894-3036
Executive Vice
President, Treasurer and Chief Financial Officer
steele@werner.com