Swift Transportation Co. Inc. Update on Safety Rating

By: Bubbajunk.com


PHOENIX, Oct 10, 2005 (BUSINESS WIRE) -- Swift Transportation Co. Inc. (NASDAQ: SWFT) announced the Federal Motor Carrier Safety Administration ("FMCSA") has just completed a review of the operations and safety management controls of Swift Transportation Co. Inc. ("Swift"). Upon completion of the review process, the FMCSA assigned to Swift a safety fitness rating of "satisfactory," the highest safety fitness rating given by the FMCSA.

The "satisfactory" safety fitness rating resolves Swift's current litigation with the FMCSA over the agency's proposed "conditional" rating in 2003. Swift's current litigation with the FMCSA over civil penalties assessed in connection with audits in 2001 and 2003, in an aggregate amount of approximately $87,000, is not affected by the FMCSA's recent action.

Robert W. Cunningham, president and chief operating officer, said, "This is fabulous news. We are thrilled to have demonstrated, to the FMCSA's satisfaction, Swift's renewed emphasis on and commitment to safety. Our resolution of this issue will allow us to focus even more intently on our turnaround plan."

Swift is the holding company for Swift Transportation Co. Inc., a truckload carrier headquartered in Phoenix. Swift's trucking subsidiary operates the largest fleet of truckload carrier equipment in the United States with regional operations throughout the continental United States.