Trending Topics
News
Electric Avenues: Cummins sees future in diversity
COLUMBUS, IN -- If you're one of those who's been thinking that Cummins is a dead duck, and that's been the tone of more than a few conversations I've joined over recent years, think again. Nothing could be further from the truth. First off, the company presently maintains an 80% market share in the North American medium-duty market, more than 90% of the school and transit bus markets, and still a decent lead on the class-8 side of things with something like a 40% share through June of this year. Dead in the water? Not exactly. Globally, the company is very strong. In 2015 it manufactured more than a million engines in the heavy-duty, mid-range, and light-duty markets -- from 50 to 650 hp -- and nearly half of them were from its joint-venture partner plants around the world.
Keep your cool. Spec’ the right reefer.
Nothing spoils a day quicker than rotting cargo, but that's exactly what happens if reefer temperatures stray beyond an acceptable range. Arguments at a receiver's dock, insurance claims, and soured business relationships are bound to follow. The challenges can also take root long before temperatures are set or wheels begin to roll.
IN PRINT — The Clock is Ticking: Consumer demands transform trucking
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 in 87 hours. Fortunes made and squandered," Hanks was forecasting the future of the 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.
Titanium acquires Xpress Group
BOLTON, ON - Titanium Transportation Group has acquired Xpress Group, a van and flatbed carrier based near Windsor, Ontario. The deal is worth $3.1 million in cash, $420,000 in common shares, and the assumption of about $5.2 million in debt. "This is exactly the type of acquisition we have been waiting for," said Ted Daniel, Chief Executive Officer of Titanium. We expect to be able to achieve significant synergies between Titanium and Xpress. In addition, Xpress' customer base complements the cross-border, full truckload division that we have focused on growing."
Celadon refinancing amid SEC investigation
INDIANAPOLIS, IL - The Celadon Group continues to restructure its assets in an attempt to create more liquidity, while it is being investigated by the Securities and Exchange Commission (SEC). The company, which owns Celadon Trucking and Celadon Logistics, as well as other subsidiaries, announced this morning that as part of the continuing implementation of its new strategic plan, it has refinanced its revolving credit and extended equipment leases that were maturing in 2018. Celadon's short-term revolving credit restructuring was done through Bank of America, and has a maturity date at the end of fiscal 2017. In addition it received US $22.6 million in equipment term loans secured by existing tractors and trailers used in their Hyndman subsidiary.