Economy

WABCO buys Meritor’s stake in partnership

TROY, MI - WABCO Holdings is upping the ante in its North American ownership, announcing this morning that it is taking full control of the he Meritor WABCO joint venture. In a press release, WABCO Holdings said it was purchasing Meritor's stake in the joint venture business, with a transaction that is expected to close Oct. 1. Meritor WABCO, a distributer of WABCO products for commercial vehicles in North America, employs about 200 people and had sales of $300 million in fiscal year 2016 With this agreement, WABCO will take over the former joint venture's application engineering and supply chain operations, including the distribution center and customer service hub in Hebron, Kentucky.

Wangler: 10-4 acquisition is strategic

BOULDER, CO – David Wangler wants his customers to know it’s what’s inside the truck that counts. The president of Trimble Transportation Enterprise said on Thursday morning the company’s acquisition…

Load volumes break records in August

TORONTO, ON - Canadian load volumes were the highest ever recorded for any August reports TransCore Link Logistics. The company says August 2017 saw a 12% increase month-over-month, from load volumes in July, but the month also shattered records set for the highest August values, with a 26% increase over August 2011.

Trimble acquires 10-4 Systems

SUNNYVALE, CA - Trimble has acquired shipping and transportation technology company 10-4 Systems. Trimble, owner of telematics providers like TMW and PeopleNet, announced today their acquisition of the privately held company that offers shipment visibility to shippers, carriers, and third-party logistics providers.

Class 8 truck sales continue surge

BLOOMINGTON, IN - North American Class 8 truck orders this August were 50% better than a year ago, and 14% above July totals, analysts at FTR report. "Orders were up for the third straight month, and it looks like May's 16,500 orders will be the low point for the year. Orders are expected to increase in September, leading into robust order activity in Q4," said Don Ake, FTR's vice president of commercial vehicles. The numbers are in keeping with expectations and should help to fill remaining 2017 build slots, FTR concludes. It's the best August order performance since 2014. In the past 12 months, North American Class 8 orders have reached 231,000 units.

Investors approve Knight-Swift deal

PHOENIX, AZ - A merger to create the biggest truckload fleet in North America has been approved by stockholders. A special meeting of Knight Transportation stock holders, held yesterday, approved the merger of the company with Swift Transportation Company that was announced in April.

East Coast International Trucks opens new facility

MILLBROOK, NS - East Coast International Trucks (ECI) is celebrating the opening of their new building today. The International truck dealership with four locations in the Maritimes unveiled their new 17,000 sq-ft building Sept. 7, allowing customers to tour the facility and see what ECI has to offer.

Train Trailer acquires Canadian Transport Trailer

CALGARY, AB – Train Trailer is growing its western operations. The company announced its acquisition of Canadian Transport Trailer (CTT), adding to its inventory with more dry vans, heaters, reefers,…

Ox Bodies announces new president

FAYETTE, AL - Henry Bell has been named as the new general manager and president of Ox Bodies. Owned by Truck Bodies and Equipment International, the designer, manufacturer, and installer of medium- and heavy-duty truck bodies, saw its former general manager Ray Salley, retire in August.

United Van Lines names new president

MISSISSAUGA, ON – United Van Lines has named a new president. The Canadian moving company announced Dan Lawrence had taken on the role beginning September 1. United Van Lines is…

Shipping costs down for June: Nulogx

TORONTO, ON - Lower fuel surcharges in June led to a drop in the total cost of shipping for Canadian Ground Shippers from the month before, reports Nulogx.

Slow growth for year’s end: FTR

BLOOMINGTON, IN - FTR Intelligence expects the economy to slow down before the end of the year, matching slower freight growth. The company reported improvements to shipping conditions in June over the previous month, but warns that slow contract pricing increases, and a modest weakening of the expected regulatory environment, will mean slower growth and fairly moderate conditions in the short-term.

WABCO, Nexteer announce long-term cooperation

AUBURN HILLS, MI - WABCO Holdings and Nexteer Automotive are steering into the future together, announcing a long-term cooperation agreement today. The two companies will collaborate to develop and supply active steering systems for medium- and heavy-duty commercial vehicles, and also look to work together on developing autonomous trucking technology.

Harvey trounces Texas; trucking

HOUSTON, TX - Hurricane Harvey is hitting hard, taking up to 10% of the trucking industry with it, reports FTR Intelligence. The category four storm made landfall in Texas, northeast of Corpus Christi, Friday night, bringing with it rain and winds of up to 209 kilometers per hour (130 miles per hour).

E-commerce is transforming trucking

NASHVILLE, TN - Seventeen years ago, Tom Hanks stood in a shipping yard and lamented that 87 hours was an eternity. Castaway was on the big screen, and the Hollywood superstar was playing a time-obsessed operations manager for a world-wide shipping company. Shouting that "the cosmos [were] created in less time. Wars have been fought and nations toppled at 87 hours. Fortunes made and squandered," Hanks was forecasting the future of supply chain. From 87 hours to just 24 or less, time is running out for goods that take more than a day to get to consumers, and trucking is undergoing massive changes, all thanks to a store that sells just about everything: Amazon. As e-commerce grows exponentially, taking larger and larger shares of markets -- like household goods, cosmetics and personal care items, groceries, and furniture -- it's re-shaping how goods are packaged, shipped, and stored, forcing fleets to adapt quickly. Retail markets were up in July all over the United States, but online sales saw an increase of 1.3%, compared to just 0.1% for traditional brick-and-mortar stores.