ABF Freight System, Inc.’, the largest subsidiary of Arkansas Best Corporation, announced that it has reached a tentative collective bargaining agreement with the International Brotherhood of Teamsters (IBT) for a new five-year labor agreement. Under the tentative agreement, ABF’s Teamster employees will be covered by the National Freight Industry Standards Agreement that is currently being ratified. This new agreement will replace the National Master Freight Agreement which expires on March 31, 2008.
‘We have come to a labor agreement with the IBT well in advance of the expiration of our current contract,’ said Robert A. Davidson, President and Chief Executive Officer of Arkansas Best and ABF. ‘This new contract provides us with greater labor flexibility and will allow ABF to more effectively serve the competitive LTL market, particularly the growing regional market.’