New Century Transportation Acquires P&P Transport, Inc.


N.J. based trucking company to be merged into New Century Transportation

WESTAMPTON, N.J., June 29 -- New Century Transportation, Inc. ("NCT") announced today it has acquired New Jersey-based P&P Transport, Inc. ("P&P"). P&P, a 20-year old concern, utilizes a hybrid less-than- truckload/truckload business model to transport freight, which is highly complementary to New Century's unique and successful Load-to-Deliver(TM) freight system. The purchase represents New Century's third acquisition within the past four years and creates an organization that will be one of the largest carriers in its core Northeast markets.

"We are extremely pleased to be partnering with P&P which will enable us to bolster our ability to service new and present customers in our principal markets," said Harry Muhlschlegel, New Century Transportation's Chairman and CEO. "This agreement will enable our company to further enhance its already established reputation for outstanding client service. We are pleased that both companies share a common model of hybrid 'Load-to-Deliver' LTL service, and a common culture based on premium performance."

Jim Molinari, President of NCT further stated, "P&P's reputation for custom driven delivery solutions and quality assured performance has fostered excellent long-term partnerships with its customer base. This opportunity offers numerous operational synergies that will make both companies more competitive in the marketplace, and will provide an exciting place for our combined workforce and driver base."

"The P&P team has enjoyed building many long term relationships by providing excellent service to our loyal customers," said Charlie Zanger, President and co-founder of P&P. "Our attention to detail and responsiveness to customer needs has contributed significantly to P&P's growth over the years," added Joe Montgomery, Vice President and co-founder of P&P. "Charlie and I are excited to be members of the New Century executive team, where we will have access to industry best practices and resources that will foster continued success for our valued customers and our employees."

New Century Transportation was founded July 2000, and since then it has enjoyed extraordinary growth by establishing significant strategic relationships with and providing premium services to its new and existing customers. New Century has grown from a start-up in 2000 to a fleet of over 1,000 tractors today through both internal fleet development and strategic acquisitions. It is now one of the top 100 carriers in the United States.

About New Century Transportation

New Century Transportation, Inc. is an asset-based specialized motor carrier that combines the high revenue yield characteristics of a less-than- truckload carrier with the operating flexibility and low fixed costs of a truckload carrier. The company's unique business model is effective due to its innovative Load-to-Deliver(TM) system for LTL shipments. New Century is one of the fastest growing carriers in the industry, and is recognized nationally for developing unique transportation solutions for its customers. Based in Westampton, N.J., the company has a highly skilled and tenured operation's management team, state-of-the-art systems, and a proactive customer service group. The company provides a broad range of time and mission critical services for both regional and national shippers including significant temperature-controlled capabilities. New Century's management has co-invested with Jefferies Capital Partners, a private equity firm, to provide a balanced capital strategy to further its rapid organic and inorganic growth plans.

About P&P Transport, Inc.

P&P Transport, Inc. is a leading hybrid less-than-truckload/truckload service provider within the outbound Mid Atlantic Markets, providing flexible, nationwide service on quality, company-owned equipment. They also offer an array of complementary temperature control, brokerage and expedited services.

Source: New Century Transportation, Inc.

CONTACT: Brian Fitzpatrick, CFO of New Century Transportation, Inc.,
+1-609-265-1110 ext. 6663, bfitz@nctrans.com

Web site: http://www.nctrans.com/

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