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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): November 30, 1999
Allied Holdings, Inc.
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(Exact name of registrant as specified in its charter)
Georgia 0-22276 58-0360550
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
160 Clairemont Avenue, Suite 510, Decatur, Georgia 30030
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(Address of principal executive offices) (Zip Code)
404/370-1100
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(Registrant's telephone number, including area code)
Not applicable
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Former name or former address, if changed since last report)
The Total Number of Pages in this Document is 7.
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ITEM 5. Other Events
On November 30, 1999, Allied Holdings, Inc. (the "Company") issued the
press release filed herewith as Exhibit 99.1 in connection with the
reorganization of certain aspects of management of the Company.
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits.
99.1 Press release dated November 30, 1999.
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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 hereunto duly authorized.
ALLIED HOLDINGS, INC.
November 30, 1999 /s/ Daniel H. Popky
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Daniel H. Popky, Senior Vice President and
Chief Financial Officer
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INDEX TO EXHIBITS
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Exhibit Number Description Page
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99.1 Press Release dated November 30, 1999 6
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EXHIBIT 99.1
ALLIED HOLDINGS NAMES POOLE CEO, WEST PRESIDENT AND COO IN MOVE
THAT STRENGTHENS LEADERSHIP CAPABILITIES
DECATUR, GEORGIA, NOVEMBER 30, 1999 - ALLIED HOLDINGS, INC. (NYSE: AHI) TODAY
ANNOUNCED that the board of directors of Allied Holdings Inc., parent company of
the world's largest automotive distribution and logistics network, named A.
Mitchell Poole Jr. vice chairman and chief executive officer, succeeding Robert
J. Rutland who will continue to be active in the business as chairman. Poole,
who joined the company in 1988, is currently president and chief operating
officer.
Randall E. West, president of Axis Group, Inc., Allied's automotive logistics
subsidiary, was named president and chief operating officer of the parent
company. Prior to joining the company in 1997, he was with Ryder System, Inc.
for 14 years, managing international operations and logistics, and most recently
serving as president of Ryder Automotive Carrier Services, Inc.
The appointments are effective January 1, 2000.
Rutland, chairman of the board, said, "These moves strengthen and broaden Allied
Holdings' leadership capabilities to respond immediately to the changing
automotive marketplace and to develop strategic alternatives for even greater
changes. I am confident this new management team will lead Allied Holdings to
fulfill its mission to be the leading supplier of value-added automotive
distribution and logistics services in North America and worldwide."
Chief executive-designate Poole said: "Our immediate task is to address
unsatisfactory financial results, primarily in our North American car-hauling
operations at Allied Automotive Group (AAG). We will accelerate efforts to
reduce costs, to maximize operating efficiencies and equipment utilization
throughout AAG's network and to work closely with our customers to enhance
revenues. Already, we have made advances in each of these areas, but we need to
do more, and we will."
Poole added: "Longer-term, we must position the company for continued success in
the changing automotive distribution market, work with our customers as they
redefine their distribution channels, implement e-commerce strategies and
continue to focus on reducing order-to-delivery times. Consolidation and
globalization are bringing fundamental changes to automotive manufacturing and
distribution. We will respond by adding value and providing a wider range of
services to the global automobile industry. Without question Allied Holdings and
its subsidiaries have the people, the resources, the experience and the
creativity to meet these challenges."
Allied Holdings is the parent company of several subsidiaries that comprise the
world's largest automotive distribution and logistics network. Allied Automotive
Group Inc. (AAG), through its subsidiaries, is the largest motor carrier in
North America specializing in the delivery of
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automobiles and light trucks. AAG transports for all major domestic and foreign
manufacturers primarily from manufacturing plants, rail ramps, ports and
auctions to automobile dealers throughout the United States and Canada. Axis
Group Inc., through its subsidiaries, provides distribution and logistics
services to automobile manufacturers in the United States and overseas. Axis
employs innovative distribution methods to help its customers solve complex
transportation, inventory and logistics problems.
Statements in this press release that are not strictly historical are
"forward-looking" statements. Investors are cautioned that such statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially. Without limitation, these risks and uncertainties include
economic recessions or downturns in new vehicle production or sales, the highly
competitive nature of the automotive distribution industry, dependence on the
automotive industry, labor disputes involving the company or its significant
customers, the dependence on key personnel who have been hired or retained by
the company, the availability of strategic acquisitions or joint-venture
partners, changes in regulatory requirements which are applicable to the
company's business, risks associated with conducting business in foreign
countries, changes in vehicle sizes and weights which may impact vehicle
deliveries per load, the ability to increase rates charged to customers, and
problems related to information technology systems and computations that must be
made by the company or its customers and vendors in 1999, 2000 or beyond.
Investors are urged to carefully review and consider various disclosures made by
the company in this press release and the company's reports filed with the
Securities and Exchange Commission.
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