- Five-year ABF National Master Freight Agreement with
International Brotherhood of Teamsters ratified overwhelmingly,
along with 25 of 27 supplemental agreements
- Two rejected supplements have reached new tentative agreement
and will be revoted next week
- ABF Teamster employees to continue working under current
contract
FORT SMITH, Ark., June 30, 2023 /PRNewswire/ -- ABF Freight System,
Inc., a subsidiary of ArcBest Corporation (Nasdaq: ARCB), is
pleased to report the new five-year ABF National Master Freight
Agreement has been ratified overwhelmingly by ABF
Teamster-represented employees, providing for increased wages and
benefits, two additional sick days, a paid Martin Luther King Jr. holiday and other
generous provisions.
ABF also negotiates 27 regional supplemental agreements as part
of the bargaining process with the International Brotherhood of
Teamsters. Voting results show that 25 of the 27 supplements also
passed. Negotiating teams from ABF and the IBT met on Friday and
reached new tentative agreements on the two outstanding
supplements. Voting by Teamster employees for those two supplements
will take place next week.
It remains business as usual at ABF as the negotiating teams
work through the final two remaining supplements. ABF employees
will continue to work under terms of the current contract during
this process.
Additional information regarding the remaining two supplements
will be provided when available.
ABOUT ARCBEST
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar
integrated logistics company that helps keep the global supply
chain moving. Founded in 1923 and now with over 15,000 employees
across nearly 250 campuses and service centers, the company is a
logistics powerhouse, fueled by the simple notion of finding a way
to get the job done. Through innovative thinking, agility and
trust, ArcBest leverages its full suite of shipping and logistics
solutions to meet customers' critical needs, each and every day.
For more information, visit arcb.com.
The following is a "safe harbor" statement under the Private
Securities Litigation Reform Act of 1995: Certain statements
and information in this release may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including, among others, statements regarding
(i) our expectations about our intrinsic value or our prospects for
growth and value creation, (ii) our financial outlook, position,
strategies, goals, and expectations, and (iii) our expectation
concerning a new labor contract. Terms such as "anticipate,"
"believe," "could," "estimate," "expect," "forecast," "foresee,"
"intend," "may," "plan," "predict," "project," "scheduled,"
"should," "would," and similar expressions and the negatives of
such terms are intended to identify forward-looking statements.
These statements are based on management's beliefs, assumptions,
and expectations based on currently available information, are not
guarantees of future performance, and involve certain risks and
uncertainties (some of which are beyond our control). Although we
believe that the expectations reflected in these forward-looking
statements are reasonable as and when made, we cannot provide
assurance that our expectations will prove to be correct. Actual
outcomes and results could materially differ from what is
expressed, implied, or forecasted in these statements due to a
number of factors, including the financial, operational, and legal
risks and uncertainties detailed from time to time in ArcBest
Corporation's public filings with the Securities and Exchange
Commission ("SEC").
For additional information regarding known material factors that
could cause our actual results to differ from those expressed in
these forward-looking statements, please see our filings with the
SEC, including our Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q, and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date hereof.
We undertake no obligation to publicly update or revise any
forward-looking statements after the date they are made, whether as
a result of new information, future events, or otherwise.
Investor Relations Contact: David
Humphrey
Title: Vice President – Investor Relations
Phone: 479-785-6200
Email: dhumphrey@arcb.com
Media Contact: Kathy Fieweger
Phone: 847-903-8806
View original content to download
multimedia:https://www.prnewswire.com/news-releases/abf-freight-national-master-freight-agreement-ratified-301868459.html
SOURCE ArcBest