TRAFFIC BRIEFS

TRAFFIC BRIEFS

ROADWAY, ST. JOHNSBURY

WIN NASSTRAC AWARDSNAPLES, Fla. - Roadway Express Inc. of Akron, Ohio, was named 1989 "Less- than-truckload Carrier of the Year" by the National Small Shipments Traffic Conference. It's the second time Roadway has won the honor since the awards was instituted in 1987.

St. Johnsbury Trucking Co. of Holliston, Mass., won Nasstrac's "Regional LTL Carrier of the Year" award for the second year in a row. The awards were presented at Nasstrac's annual spring meeting, held here last week.

VOLVO FACTORY IN US

REAPS 34.2 PERCENT OF SALES

GREENSBORO, N.C. - More than one-third of the 59,200 heavy trucks sold throughout the world in 1989 by Volvo Truck Corp. of Gothenburg, Sweden, were credited to Volvo GM Heavy Truck Corp. here.

Volvo GM reported factory sales of 20,245 trucks during 1989, only its second year of operation. The figure was 34.2 percent of the Volvo's overall sales.

Of Volvo GM trucks sold, 19,125 were WhiteGMC trucks made in the United States, with 17,030 sold in the United States and 2,000 exported to Canada, the company said.

S&P TO KEEP WATCHING

SANTA FE PACIFIC CORP.

NEW YORK - Standard & Poor's Corp., New York, is continuing to keep a close watch on Santa Fe Pacific Corp. and its Atchison, Topeka and Santa Fe Railway Co., Chicago, following the parent's announced settlement of litigation with Energy Transportation Systems Inc.

The Santa Fe issues were originally placed on Standard & Poor's CreditWatch on March 20, 1989, when a U.S. district court found the railroad and its parent guilty of conspiracy and unreasonable restraint of trade in blocking construction of ETSI's coal slurry pipeline; the judgment was for $750 million.

Under the April 19 settlement, Santa Fe Pacific will pay$150 million in 1990, $25 million a year in 1991 and 1992 and $30 million annually between 1993 and 1997.

IRAQ-BOUND GUN PART

DETAINED IN GREECE

ATHENS, Greece - A truck headed for Iraq with a 29.5-ton "weapons system" has been detained in the western port of Patras, the Greek Finance Ministry said.

Police sources said the equipment was thought to be part of a "supergun" that Britain has accused Iraq of trying to assemble.

PRESTON REPORTS LOSS

IN FIRST QUARTER

PRESTON, Md. - Preston Corp. lost $215,240 in the fiest quarter compared with a year-earlier profit of $1.1 million, or 19 cents a share.

Revenue for the transportation holding company, which owns Preston Trucking Co., climbed to $161 million from $152.4 million.

Preston's operating income fell to $3.1 million from $5.1 million.

Preston's president, William B. Potter, said first quarter rate increases have been eroded by price discounting. Preston, along with most other trucking companies, will raise its freight rates about 4 percent on June 4.

UNION PACIFIC CORP.

REPORTS PROFIT DROP

BETHLEHEM, Pa. - Union Pacific Corp., parent of Union Pacific Railroad and Overnite Transportation Co., said first quarter profit fell 7 percent to $128 million, or $1.27 a share, on revenue of $ 1.72 billion.

In the same period a year earlier, the company earned $138 million, or $1.22 a share, on revenue of $1.55 billion. The difference in per share earnings refected UP's stock repurchase and dutch auction program completed last May.

Union Pacific Railroad's earnings rose 2 percent to $127 million on revenue of $1.73 biliion from $125 million on revenue of $1.48 billion.

Overnite Transportation's earnings fell to $8 million on revenue of $189 million from income of $12 million on revenue of $168 million. Higher fuel, wage and workmen's compensation costs were blamed for Overnite's profit drop.