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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
C U R R E N T R E P O R T
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 1, 1997
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CALIBER SYSTEM, INC.
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(Exact name of registrant as specified in its charter)
Ohio 0-10716 34-1365496
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
3925 Embassy Parkway, Akron, Ohio 44333
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(Address of principal executive offices)
Registrant's telephone number, including area code (330) 665-5646
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Caliber System, Inc. Form 8-K
INFORMATION REQUIRED IN REPORT
Item 5. Other Events
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The Registrant's news release dated July 1, 1997, a copy of which is attached
hereto as Exhibit 99, is incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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(c) Exhibits.
99 Caliber System, Inc. News Release dated July 1, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
CALIBER SYSTEM, INC.
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REGISTRANT
Date: July 10, 1997 By: /s/ John E. Lynch, Jr.
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John E. Lynch, Jr.
Vice President, General
Counsel and Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99 Caliber System, Inc. News Release dated July 1, 1997.
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Caliber System, Inc.
3925 Embassy Parkway
Investor Contact: Investor Relations P.O. Box 5459
(330) 665-8814 Akron, OH 44334-0459
(330) 665-5659
http//www.calibersys.com
Media Contact: Dina Gruey
(330) 665-8847
FOR IMMEDIATE RELEASE
July 1, 1997
CALIBER SYSTEM CLOSES TRANSACTION
TO SELL FORMER CENTRAL FREIGHT LINES
AKRON, OHIO - Caliber System, Inc. (NYSE: CBB) announced today that on
Monday, June 30, 1997, it completed the sale of the operations of Viking
Freight's Southwestern Division - the territory served by the former Central
Freight Lines - to senior Central management and the Moyes Group of Swift
Transportation. The new regional carrier will operate under the name Central
Freight Lines, Inc.
Details of the agreement among the parties were announced previously by
Caliber. The total value of the sale, including the anticipated proceeds from
the properties retained by Caliber, is approximately $80 million.
"I am pleased with the transaction, particularly the fact that so many
jobs have been preserved. We extend our congratulations to the Central team and
wish the new company every future success," said Daniel J. Sullivan, Chairman,
President and CEO of Caliber System. Sullivan added that he expects there will
be further opportunities for Central to work together with Viking.
Central Freight Lines will operate 57 terminals in eight southwestern
states. The restructured Viking Freight serves the 12 western states where it
has been a leader in the regional less-than-truckload market for many years.
Caliber System is a leading provider of value-added transportation,
logistics and related information services. Its operating companies include
RPS, a business-to-business small-package carrier; Viking Freight, a supplier
of regional freight service in the West; Caliber Logistics, a contract logistics
provider; Roberts Express, a critical-shipment carrier; and Caliber Technology,
a producer of systemwide information services. By combining its operating
units' products and services, Caliber offers integrated, customized solutions
that meet customer demand for more comprehensive transportation and logistics
programs.
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