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Wabash National buying Supreme body builder
LAFAYETTE, IN - Wabash National is purchasing Supreme Industries -- the second-largest maker of truck bodies in the U.S. - as an answer to the growing e-commerce segment. The cash offer is valued at US $21 per share, which equates to an equity value of $364 million and enterprise value of $342 million. The company expects to realize at least $20 million in annual cost savings by 2021, largely through corporate and procurement expenses and operational savings. Supreme, founded in 1974, recorded $299 million in sales last year and has seven facilities across the country. (All figures are in US dollars.) The Wabash portfolio includes dry freight vans, refrigerated vans, liquid and dry bulk tank trailers, and platform trailers.
Ontario driver training schools warned
TORONTO, ON - Ontario's private career colleges have received a stern warning from the ministry that oversees them, after complaints that some schools are trying to bypass newly introduced mandatory training for commercial drivers. The Mandatory Entry Level Training (MELT) program was introduced by the Ontario Ministry of Transportation on July 1, and sets a minimum of 103.5 hours of training for anyone looking to earn a Class A licence. It's the first jurisdiction in North America to introduce such a standard. In a memo obtained by Today's Trucking, the Ontario Ministry of Advanced Education and Skills Development says it has heard some schools may not be complying with approved training programs and conditions. The issue includes programs designed to upgrade BZ or DZ licence holders to AZ licences, or simple hourly lessons.
Bendix reports production increases in June and July
ELYRIA, OH - Bendix Commercial Vehicle Systems reports increased demand at three of its commercial facilities. Last week the company, a member of the Knorr-Bremse Group, which develops and supplies active safety technologies, energy management solutions, and air brake charging and control systems and components for medium- and heavy-duty trucks, tractors, trailers, buses, and other commercial vehicles throughout North America, reported production milestones across all three of its facilities due to increasing orders.
U.S. regulators drop mandatory sleep apnea testing
WASHINGTON D.C. - Federal regulators in the United States will no longer be looking to make tests for moderate-to-severe obstructive sleep apnea mandatory for truck drivers or railway engineers. The Federal Motor Carrier Safety Administration (FMCSA) and the Federal Railroad Administration (FRA) revealed last week that they are withdrawing their March 2016 notice seeking the changes for those in safety sensitive positions in highway and rail transportation.
TMW Systems names senior director
CLEAVLAND, OH - TMW Systems has appointed a new senior director of product management. The software company welcomed Jay Delaney to their team this week in the role. Delaney, who has nearly 30 years of experience in the North American transportation and logistics industry, will be responsible for the TMWSuite transportation management software platform, where he will direct product strategy and lead the company's product advisory council.