Business & Finance
Business and Finance
Business and Finance
Thu, June 17, 2010 Union Equity, Inc. Targets the $171.7 Billion Truck Transportation Industry
ORLANDO, FL--(Marketwire - June 17, 2010) - Union Equity, Inc. (
At the beginning of the twenty-first century, there were approximately 15.5 million trucks on U.S. roads, of which 1.9 million were tractor trailers. According to the Census Bureau's Statistical Abstract of the United States, there were over 110,400 trucking companies in the United States. The estimated average annual revenue for the truck transportation industry is $171.7 billion, with $109.3 billion generated by generalized freight transport and $62.3 billion generated by specialized deliveries. Highway miles traveled by trucks totaled 68.7 billion miles by fully or partially loaded trucks and an additional 17.9 billion miles by empty trucks.
"With our unique business model and aggressive growth strategy we know we will continue to have success within the truck transportation industry," stated Steven Woodell, President of Union Equity, Inc. "We are excited about the progress that Union Equity has made in 2010 and look forward to increasing our revenues as well as increasing our asset base with acquisitions this year."
"The current demand for trucks has increased tremendously over the past few months. Our business has increased substantially in 2010, which is due to our business model that requires no credit lending institutions and allows the owner operator to obtain a truck without going through a bank first," stated Randy Lance, Chairman of Union Equity, Inc. "We are able to offer a wide range of vehicles with our in house leasing system and are able to protect our trucks with our non refundable deposits and our state of the art GPS tracking systems. We have a large competitive advantage and are excited to expand our fleet to offer even more drivers vehicles."
About Union Equity, Inc.
Union Equity is a commercial truck leasing business engaged in leasing class 8 commercial trucks to owner operators located around the contiguous 48 states since 1999. Many owner operators drive on a for hire basis for Fortune 500 companies, while others have their own authority to haul freight throughout the United States. Union Equity's strategy has been to target both groups of owner operators through an aggressive marketing program and complete "one stop shop" solution for the owner operator. Through their unique business model, Union Equity is able to provide owner operators with a leased truck regardless of their credit history. Owner operators need only to have a valid commercial driver's license, acceptable insurance, proof of a shipper's intent to hire, and a willingness to work.
Safe Harbor: This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including Union Equity's expansion, future success, and increasing revenues and assets, consummation of the stock purchase program. Forward-looking statements can also be identified by words such as "targets," "expects," "believes," "anticipates," "intends," "may," "will," "plan," "continue," "forecasts," "remains," "would," "should," and similar expressions. Forward-looking statements are based on current expectations, are not guarantees of future performance and involve assumptions, risks, and uncertainties. Actual performance and results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Risks and uncertainties include the future condition of the global and capital markets, the state of the U.S. economy, and the price of fuel. Union Equity does not does not have a duty to and does not intend to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
