|Exchange:||NASDAQ national market|
|Stock:||Forward Air Corporation|
|Industry:||Integrated Shipping & Logistics|
|Forward Air Corporation was incorporated in Tennessee in 1981. The Company’s operations can be broadly classified into two principal segments: Forward Air, Inc. and Forward Air Solutions, Inc. Through its Forward Air segment, the Company is a provider of time-definite surface transportation and related logistics services to the North American expedited ground freight market. It offers its customers local pick-up and delivery (Forward Air Complete™) and scheduled surface transportation of cargo as a cost-effective, reliable alternative to air transportation. The Company operates its Forward Air segment through a network of terminals located on or near airports in 85 cities in the United States and Canada, including a central sorting facility in Columbus, Ohio and 12 regional hubs serving key markets. It also offers its customers an array of logistics and other services including: expedited full truckload; dedicated fleets; warehousing; customs brokerage; and shipment consolidation, deconsolidation and handling. Through its Forward Air segment, the Company markets its airport-to-airport services primarily to freight forwarders, integrated air cargo carriers, and passenger and cargo airlines. To serve this market, it offers customers a high level of service with a focus on on-time, damage-free deliveries. The Company serves its customers by locating its terminals on or near airports and maintaining regularly scheduled transportation service between major cities. Through its FASI segment, the Company provides pool distribution services throughout the Mid-Atlantic, Southeast, Midwest and Southwest continental United States. Pool distribution involves managing high-frequency handling and distribution of time-sensitive product to numerous destinations in specific geographic regions. The Company’s Forward Air wholesale customer base is primarily comprised of freight forwarders, integrated air cargo carriers and passenger and cargo airlines. Its freight forwarder customers vary in size from small, independent, single facility companies to large, international logistics companies such as SEKO Worldwide, AIT Worldwide Logistics, Expeditors International of Washington, Associated Global, UPS Supply Chain Solutions and Pilot Air Freight. The Company’s FASI pool distribution customers are primarily comprised of national and regional retailers and distributors, such as The Limited, The Marmaxx Group, The GAP, and Aeropostale. The expedited ground freight and pool distribution segments of the transportation industry are highly competitive and very fragmented. Its Forward Air and FASI competitors primarily include national and regional truckload and less-than-truckload carriers.|
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