Atlas World Group stockholders elect Board of Directors, receive 2004 financial statement during annual meeting

Owners expecting second highest revenues in company history


October 14, 2004

Media Contacts:
Kristen Burnett, Atlas Van Lines, 800.638.9797, ext. 2951 kriburn@atlasworldgroup.com
Paul Whitmore, Hetrick Communications


EVANSVILLE, Ind. — The 62 stockholder agents of Evansville-based Atlas World Group (AWG) enter the final three months of the year with projections of near-record revenues.  Chief financial officer Richard J. Olson released his projections to stockholders during their annual meeting at Atlas' world headquarters in Evansville, IN.

Olson predicted a nearly 10% increase in revenue over last year, totaling nearly $593 million in total revenue in 2004, with a projected net income of $16 million.  Annual revenue reached its high point in 2000 when Atlas earned $608 million.  Revenue dropped sharply for the next two years following a downturn in the economy and sale of a subsidiary. 

"We're pleased to be able to share these numbers with the very people who work so hard to make our company as successful as it is," said Mike Shaffer, Atlas Chairman and CEO.  "These numbers reflect how well we are doing in the industry, how our economy has changed during the past few years, and the kinds of efficiencies we've achieved in staffing.

In addition to receiving the financial report, stockholders elected the class-one directors to the Atlas World Group Board of Directors:

  • Michael L. Shaffer Chairman and CEO, Atlas World Group, Inc.
  • Gary L. Weleski President, Weleski Transfer, Inc., Tarentum, PA
  • Todd V. Winter President and CEO, Golden Van Lines, Inc., Longmont, CO
  • Frank E. Webers President, Collins Brothers Moving Corp., Larchmont, NY
  • Richard Bert President, Kilpatrick Moving and Storage, Northvale, NJ
  • Thomas L. Hoover Chairman and CEO, ABC Moving & Storage, Inc., Chesterfield, MO
  • Reginald T. Lammers President and CEO, Ace Relocation Systems, San Diego, CA
  • Thomas J. Shetler Sr. President, Chairman and CEO, Shetler Moving & Storage, Inc., Evansville, IN
  • Howard E. Parker Retired CFO, Atlas World Group, Inc., Laramie, WY

Continuing on the Board until their term expires in 2005 are:

  • Ted Alger Chairman, Atlantic Moving & Storage, Inc., Atlanta, GA
  • John W. Steiner Chairman, Ace World Wide Moving & Storage, Inc., Cudahy, WI
  • Frederick D. Paxton II Chairman and CEO, Paxton Van Lines, Inc., Springfield, VA
  • John R. Westerberg Chairman and CEO, Nelson Westerberg, Inc., Elk Grove, IL
  • Joseph McNamara President, Certified Van Service, Inc., Islandia, NY
  • David M. Davenport Attorney, Washington, D.C.
  • David W. Bueker President and CEO, McCormack-Payton Storage & Moving Co., Inc., Kansas City, MO
  • Donald C. Hill President, Alexander's Mobility Services, Tustin, CA

With more than 700 employees throughout North America, Atlas World Group serves as the holding company for eight subsidiary companies. More than 600 Atlas agents in the United States and Canada specialize in corporate employee relocation and in the transportation of high-value items such as electronics, fine art, new fixtures and furniture. Visit www.atlasworldgroup.com for more information on the company and Atlas agents.

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800-638-9797812-424-2222
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