ADESA sells Great Rigs to The Waggoners Trucking

| 6/18/2002

ADESA Corp. announced June 17 it has sold largely all of the assets of its transportation subsidiary, Great Rigs Inc., to The Waggoners Trucking. The sale is part of an ongoing effort by ADESA and its parent company, Duluth, MN-based 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."

The Waggoners Trucking, an auto transport, flatbed and oil services operation, will provide transportation services to ADESA auctions and their customers, according to David Waggoner, president of Billings, MT-based The Waggoners Trucking. The new owner will take over operation of Great Rigs' headquarters in Moody, AL.

Employees of Great Rigs reportedly will be offered employment opportunities with Waggoners. Terms of the deal were not disclosed.