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ADESA's Great Rigs Sold to The Waggoners Trucking

June 18, 2002

ADESA Corp. announced June 17 that it has sold substantially all of the assets of its transportation subsidiary, Great Rigs Incorporated, to The Waggoners Trucking, an auto transport, flatbed and oil services operation based in Billings, MT. According to the company, the sale is part of an ongoing initiative by ADESA and its parent company, Allete, to focus on core businesses while maintaining access to key services through outsourcing, as necessary.“The sale of Great Rigs in no way reflects a de-emphasis on transportation,” said Jim Hallett, chairman and CEO of Allete Automotive Services. “Transportation and logistics services are a critical part of vehicle remarketing, and this move will allow Allete Automotive Services to integrate these services with our overall offerings.”According to David Waggoner, president of The Waggoners Trucking, the company will provide transportation services to ADESA auctions and their customers. The new owner will take over operation of Great Rigs’ headquarters facilities in Moody, AL. Employees of Great Rigs will be offered employment opportunities with Waggoners. “The acquisition of Great Rigs is a good move for us and we’re excited to expand our service offerings to ADESA auctions and their customers,” Waggoner said. “The addition of the Great Rigs customer base will greatly enhance the continuity of our existing operations.”Allete’s corporate headquarters are located in Duluth, MN. Allete’s holdings include ADESA, the Automotive Finance Corp. (AFC), Minnesota Power, and real estate holdings in Florida. For more information about Allete, visit the company’s Web site at www.allete.com.
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