Oklahoma Trucking Company With 160 Drivers is Shutting Down After 77 Years
Woodward, OK – A family-owned trucking company in Oklahoma is closing its doors after more than 77 years in business.
According to Mike Stone, president of Beaver Express Services, the less-than-load (LTL) company will “wind down operations” by this Thursday, March 26.
In a letter to customers, Stone writes, “Please be advised that Beaver Express Service will stop making pick-ups effective end of business Tuesday night, March 24th while we make an orderly transition to wind-down operations. Our night linehaul operations will occur Tuesday, 3/24 and Wednesday, 3/25. Our goal is deliver everything Wednesday and Thursday morning so that we have all freight delivered by the end of the day Thursday, March 26.”
Further, Stone assures customers an agreement was reached between Beaver Express Service and mega LTL carrier, Old Dominion Freight Line, for continued service following the shut down.
“Old Dominion Freight Lines is not acquiring any assets or assuming any liabilities of Beaver Express Service. Any outstanding issues with Beaver Express Service as of this date should be handled directly with Beaver Express Service,” Stone advised.
Greg Plemmons, senior vice president of sales for Old Dominion, said in a letter to Beaver Express Service customers, “We at Old Dominion Freight Line are excited by the opportunity to work with you to provide a seamless transition and quality service. Beaver Express has provided quality transportation solutions to the shipping public for many years. We at Old Dominion appreciate the contributions they have made to our industry and its customers.”
According to data from the Federal Motor Carrier Safety Administration (FMCSA), the carrier operated 218 power units and employed 160 drivers.
While its vehicle and driver inspection out of service rates are relatively in-line with industry averages, the company reported 21 accidents involving 16 tow-aways and 5 injuries in the prior 24-month reporting period.
In addition to dealing with the extra costs of accidents and insurance rates spiking, Beaver Express Service also suffered losses due to the fact a significant portion of its business was made up of hauling oilfield equipment for Halliburton.
Oil prices have plummeted in recent days due to an ongoing battle between Saudi Arabia and Russia for market share.
Moreover, the COVID-19 global pandemic is also adding to massive layoffs within the oilfield industry across the Texas Permian Basin and beyond.
According to its website, the company had 25 terminals and operated in Arkansas, Kansas, Missouri, New Mexico, Oklahoma and Texas.
“The senior management team and the employees of Beaver Express would like to thank you for your loyalty to our organization and its people over the past 77 years and wish you the very best going forward,” Stone said.
Photo courtesy Beaver Express