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August 17, 2000 3:38 PM, EDT

Old Dominion Freight Line will add to the list of major carriers increasing rates, the less-than-truckload hauler announced Thursday.

The company will adopt the Southern Motor Carrier general rate increase – approximately 5.4% – effective Sept. 1. Minimum shipment charges will be raised $1.

Company Vice President of National Accounts and Marketing Chip Overbey said the increase was necessary due to higher costs associated with driver wages and benefits and new equipment.

Old Dominion Freight Line, a regional carrier of consumer and capital goods and textiles, has been in operation for 66 years. With 1999 revenues of $426 million, it ranks 37th on the Transport Topics list of 100 largest trucking companies.

In recent weeks, several major trucking companies such as Yellow, CF and Overnite have announced rate increases between 5 and 6%.