March 30, 2015
CRST International, Inc. Celebrates 60th Anniversary
FOR IMMEDIATE RELEASE
CEDAR RAPIDS, Iowa (March 30, 2015) –Sixty years ago, Herald and Miriam Smith started Cedar Rapids Steel Transportation (CRST) in the heart of Iowa. Little did they know, 60 years later, CRST would grow into one of the largest trucking companies in America. At the time, they didn’t own any trucks or have any customers, but Herald, known as “Smitty,” convinced companies he could save them money. He contracted with owner operators who were hauling livestock to Chicago to return to the Cedar Rapids area with loads of steel instead of empty trucks.
CRST remained strong through the decades with industry changes, deregulation and several recessions. While many trucking companies were destroyed by these events, CRST emerged even stronger with zero debt. This enabled the company to reinvest in equipment, technology, employees and owner operators.
“We are very proud to celebrate this milestone,” said Dave Rusch, CRST International President and CEO. “Many things have contributed to our success over the years such as the dedication of our staff, our ability to seize opportunities and our experience within the industry.”
“However, we could never have reached this point without the steadfast support of the Smith family, our customers, business partners and employees,” continued Rusch. “Our strategic plan calls for revenue growth to two billion by 2017. The recent acquisition of Pegasus Transportation several weeks ago, combined with other acquisition activity could expedite this milestone goal.”
Capitalizing on the strengths of its executive and management teams, CRST has evolved from a small trucking company to one of the largest privately-held transportation companies in the U.S. with annual revenues of $1.5 billion. CRST is now the sixth largest truckload carrier in the nation.
CRST remains family owned. John Smith purchased the company from his parents and siblings in 1997 and assumed the role of chairman of the board in 2010. Ian Smith, John’s son, was recently appointed to the CRST International Board of Directors. This appointment continues the family’s commitment to remain privately-owned on to the third generation of the Smith family. Currently, the company is led by a senior management team with more than 250 years of combined experience.
CRST’s success also has allowed extensive capital investments. “We are thrilled to be making another substantial investment into the Cedar Rapids community with the construction of the new CRST corporate headquarters, opening in the spring of 2016,” said John Smith, Chairman of the Board. “This $35 million investment is a reflection of our confidence in the continued growth of CRST, as well as our admiration for the Cedar Rapids community.”
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CRST International, Inc.
Cedar Rapids, Iowa–based CRST International, Inc. is one of the largest privately-held transportation companies in the United States. Through its eight operating companies, CRST provides a broad array of transportation solutions, including expedited van, flatbed, dedicated services, brokerage, transportation management, high value product white glove moving services and expedited temperature controlled team services. CRST’s operating companies are made up of CRST Expedited, Inc., CRST Malone, Inc., CRST Dedicated Services, Inc., CRST Logistics, Inc., CRST Specialized Transportation, Temperature Controlled Team Service (TCTS), BESL Transfer Company and Pegasus Transportation, Inc. For more information, visit www.crst.com or call 800-736-CRST (2778).
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