Old Dominion Freight Line Inc. has created a neutral logistics and supply-chain services provider. Dubbed Vault Logistics, the new venture brings together several existing business units within Old Dominion into an independent operating division which comprises warehousing and distribution, managed transportation, dedicated services, and truckload brokerage. Specific offerings include shipment planning and scheduling, integration with order systems, electronic load tender, in-transit tracking and logistics reporting. From its headquarters in Thomasville, N.C., the company will serve customers nationwide. It is headed up by president Michael Venegoni, a 33-year veteran of the transportation and logistics industry. David Congdon, president and chief executive officer of Old Dominion, said the move is a response to customer requests for a broader range of services "across increasingly complex and dynamic supply chains." Old Dominion is a national less-than-truckload motor carrier providing one- to five-day service among six regions of the U.S., and next- and second-day service within those regions.
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