WARREN,
Mich., Jan. 2, 2024 /PRNewswire/ -- Universal
Logistics Holdings, Inc. (NASDAQ: ULH) is poised to undertake an
important expansion as it ventures into a new industrial building
situated on Lee Highway within the greater Roanoke, Virginia area. Universal expects to
invest approximately $50 million and
generate 45 new employment opportunities with the expansion. The
move marks a strategic initiative for Universal's heavy truck
division, a key player in providing third-party assembly,
sequencing, and other value-added services within the logistics
sector.
This expansion aims to further bolster Universal's heavy truck
capabilities in servicing Class 8 truck assembly operations. The
254,000 square-foot facility will be instrumental in catering to
the growing demands of the heavy truck industry, and is expected to
commence operations in 2025 after a comprehensive 12-month facility
customization process.
"Our expansion in the Roanoke
region represents an exciting phase for Universal's heavy truck
division as we fortify our commitment to delivering top-tier
services within the logistics and transportation sectors," stated
Universal's CEO Tim Phillips. "Our
investment not only signifies our dedication to growth, but also
underscores our pledge to contribute meaningfully to the local
economy while creating employment opportunities for the
community."
Universal's investment in this expansion initiative is a
testament to its vision of enhancing operations and fostering
economic growth in the region. The creation of 45 net new jobs will
provide a platform for skilled individuals to contribute to and
benefit from the flourishing logistics landscape.
Over the next 12 months, Universal will upgrade the Lee Highway
building to accommodate its specialized services, ensuring it
aligns seamlessly with the company's operational requirements and
quality standards. This expansion initiative signifies Universal's
commitment to innovation, efficiency, and excellence in delivering
comprehensive assembly and logistics solutions to its clients.
About Universal: Universal Logistics Holdings, Inc.
("Universal") is a holding company that owns subsidiaries engaged
in providing a variety of customized transportation and logistics
solutions throughout the United
States, and in Mexico,
Canada and Colombia.
Universal's heavy truck division provides third-party assembly and
value-added warehouse services within the industrial sector. The
company is dedicated to leveraging innovation and expertise to
offer cutting-edge solutions, contributing significantly to the
advancement of logistics services for original equipment
manufacturers.
Forward Looking Statements
Some of the
statements contained in this press release might be considered
forward-looking statements. These statements identify prospective
information. Forward-looking statements can be identified by words
such as: "expect," "anticipate," "intend," "plan," "goal,"
"prospect," "seek," "believe," "targets," "project," "estimate,"
"future," "likely," "may," "should" and similar references to
future periods. Forward-looking statements are based on information
available at the time and/or management's good faith belief with
respect to future events and are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in the statements. These forward-looking
statements are subject to a number of factors that may cause actual
results to differ materially from the expectations described.
Additional information about the factors that may adversely affect
these forward-looking statements is contained in Universal's
reports and filings with the Securities and Exchange Commission.
Universal assumes no obligation to update forward-looking
statements to reflect actual results, changes in assumptions or
changes in other factors affecting forward-looking information
except to the extent required by applicable securities
laws.
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SOURCE Universal Logistics Holdings, Inc.