Wabash National
 |
|
| Public | |
| Traded as | : WNC |
| Industry | Transportation |
| Founded | 1985 |
| Headquarters | Lafayette, Indiana, United States |
|
Area served
|
Worldwide (except China, Europe and Oceania) |
|
Key people
|
Richard J. Giromini, President/CEO |
| Products | Semi-trailers |
| Revenue | 1.6 billion USD (2013) |
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Number of employees
|
6,000 |
| Website | www.wabashnational.com |
Wabash National is a diversified industrial manufacturer and North America’s leading producer of semi trailers and liquid transportation systems. The company specializes in the design and production of dry freight vans, refrigerated vans, platform trailers, liquid tank trailers, intermodal equipment, engineered products and composite products. Its innovative products are sold under the following brand names: Wabash National®, Transcraft®, Benson®, DuraPlate®, Walker Transport, Walker Defense Group, Walker Barrier Systems, Walker Engineered Products, Brenner® Tank, Beall®, Garsite, Progress Tank, TST®, Bulk Tank International and Extract Technology®. The company operates a number of Wabash National Trailer Centers, trailer service centers and retail distributors of new and used trailers and aftermarket parts throughout the U.S. Annual company sales in 2013 were approximately $1.6 billion USD.
Wabash National was founded as a start-up in 1985 and has been publicly traded since 1991. The company was co-founded in April 1985 by Jerry Ehrlich, formerly the president of Monon Corp., an Indiana-based trailer manufacturer. Two years earlier, corporate raider Victor Posner had acquired Monon's parent company, Evans Products Co., and had proceeded to sell off its assets to pay debt. As Monon declined, Ehrlich repeatedly offered to buy the company but to no avail. Thus, Ehrlich and two fellow ex-Monon Corp. executives, Ronald J. Klimara and William M. Hoover, started their own company. They were soon joined by 14 other former Monon employees.
Ehrlich and his associates established their company in Lafayette, Indiana, about 30 miles south of Monon Corp. and approximately 65 miles northwest of Indianapolis. In need of manufacturing facilities, Wabash initially leased a 450,000 square-foot abandoned factory then used by local farmers to store corn. The executives' experience and contacts helped Wabash acquire its start-up capital: $2 million in equity from Washington D.C. investors Steven and Mitchell Rales, a $3 million industrial revenue bond, and a $5 million line of credit from a local bank. Wabash's first trailer was reportedly built on two sawhorses and was finished in August 1985. Its first customer was Sears, Roebuck & Co., a former customer of Monon, which ordered ten trailers from Wabash.
With Ehrlich as Wabash's president, and Hoover and Klimara as vice-presidents of sales and finance, respectively, Wabash began to grow rapidly. Its client list soon expanded to include Heartland Express Inc., Schneider National Inc., and Dart Transit Co. In 1986, the company generated sales of $70 million from more than 15,000 trailers. That year the company also purchased a more suitable factory in the same area for about $2.5 million.
In December 2008, PODS and Wabash National announced they have signed a multi-year agreement to build and service all of PODS' portable storage container requirements.
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