 |
NEWS
FOR IMMEDIATE RELEASE
Contact: Ed McKechnie
Watco Companies
(620) 231-2230
emckechnie@watcocompanies.com
TOWNER DESIGNATED TO LEAD WATCO COMPANIES
PITTSBURG, KANSAS– August 25, 2004 – Rick Webb, Chief Executive Officer of Watco Companies, Inc. announced today that Terry Towner has been selected to assume the office of President and Chief Operating Officer of Watco Companies effective immediately.
“As our Company has grown over the past 20 years, we have been blessed with talented individuals who have led us to new successes,” Webb said. “Terry Towner is one of those talented people. He has a solid background in all parts of our business including financial, operations, development, marketing and accounting, which will provide an excellent foundation for him to lead the day-to-day operations of our Company.”
“Watco will continue to grow in a prudent and strategic manner. Terry’s leadership will be an essential component in that growth and success.”
“I appreciate the confidence that Rick and the Webb family have placed in me to lead this company,” Towner said. “The real pride I have in accepting this position is that Watco is a tremendous company with tremendous people at every level and in every department. As our Company continues to grow, there will be changes and opportunities. My responsibility is to ensure that our future is based on the core values of the company. Improving customer satisfaction, improving profitability and doing both for the long term has been our past and it will continue to be our future. This is one of the most dynamic Companies in the transportation industry and we are going to continue to grow, improve and be successful by providing the right service, at the right time, at the right price and in the safest manner possible. This means taking care of our customers and taking care of our people are my top priorities,” Towner said.
To support Towner as President, Gary Lundy and Ed McKechnie will continue in their leadership roles of support services and commercial marketing efforts. Lundy is the Executive Vice President of Support Services and McKechnie is the Executive Vice President and Chief Commercial Officer.
“Gary and Ed both bring a great commitment to success and experience to our Company,” Webb said. “Gary has the background serving in many different capacities to coordinate and maximize our support services. Whether it is safety or purchasing, bringing that additional value to our Customers is exciting.”
“Ed is the natural choice to lead our commercial efforts. His many years of leadership experience give him the skills and knowledge to bring multiple benefits to our Customers and allow this Company to achieve the growth we expect,” Webb said.
Watco Companies owns nine short line railroads across the United States: the Kansas & Oklahoma Railroad based in Wichita, Kans.; the South Kansas & Oklahoma Railroad and Stillwater Central Railroad, both based in Cherryvale, Kans.; the KAW River Railroad, based in Kansas City, Missouri, the Eastern Idaho Railroad, based in Twin Falls, Idaho; the Great Northwest Railroad and the Palouse River & Coulee City Railroad, both based in Lewiston, Id., the Timber Rock Railroad, based in Conroe, Texas, Washington; and the Pennsylvania Southwestern Railroad, based in Midland, Penn. Watco also operates major railroad support facilities based in Jacksonville, Flor., Coffeyville, Kans., Pittsburg, Kans., and Baytown, Texas. Watco’s industrial switching division is headquartered in Leesville, La., and has more than 25 operating locations across the United States. Watco also provides leasing services to customers across the nation. Watco has a warehouse and trucking company located in Pittsburg, Kans. More information about Watco Companies, Inc. and its services can be found at www.watcocompanies.com.
-- # # # --