Arkansas Best Will Buy New Tractors
by June 23, 2003 12:00 am 71 views
Arkansas Best Corp. expects to have capital expenditures of nearly $70 million this year compared with about $46 million last year, said the firm’s Chief Financial Officer David E. Loeffler.
Speaking June 17 at the Merrill Lynch Transportation Leaders Conference, Loeffler said the amount is expected to increase because the Fort Smith carrier plans to purchase 1,800 new trailers this year, compared with the 500 it bought last year.
Arkansas Best will purchase between 1,500 and 1,600 trailers a year going forward, Loeffler said.
The company has a young fleet of trucks because it keeps a truck for three years said Robert A. Young III, the company’s president and CEO. That strategy helps keep maintenance costs low and if an overhaul is required, that typically means there’s been a “premature failure” and so the manufacturer picks up the costs, he said.