EGL Inc. said Thursday it has received an offer from Ceva Group to acquire stock of the Houston-based freight forwarder for $43 a share.
May 3, 2007Government, Business, Logistics
U.S. Firm Buying Canada Cartage
A U.S. private-equity firm will buy trucking company Canada Cartage for C$140 million, the Canadian Press reported Friday.
May 4, 2007Business
Payrolls Rise Less Than Forecast; Unemployment Rate Rises to 4.5%
U.S. payrolls rose by 88,000 in April and the unemployment rate rose to 4.5% from 4.4% in March, the Labor Department said Friday.
May 4, 2007Business, Safety, Government
YRC Names USF Glen Moore CEO
YRC Regional Transportation said Thursday it named Gary Pruden president and chief executive officer of its USF Glen Moore unit.
May 4, 2007Business
Oshkosh Reports Higher Profit
Specialty truck maker Oshkosh Truck Corp.’s fiscal second-quarter profit rose to $50.9 million or 68 cents a share, from $49.8 million or 67 cents a year ago.
May 4, 2007Government, Business, Safety
MAN’s Income Improves
German truck maker MAN reiterated its interest in a three-way association with Volkswagen and Swedish rival Scania, and boosted its 2007 forecast after a better-than-expected first quarter, Agence France Press reported Thursday.
May 3, 2007Business, Logistics
Ceva Makes Offer for EGL
Business, Safety, Government
P.A.M.’s 1Q Income Slips
Truckload carrier P.A.M. Transportation Services’ first-quarter net income fell to $1.3 million or 12 cents a share, from $5.2 million or 50 cents last year.
May 3, 2007Business
U.S. Foodservice Sold for $7.1 Bln.
Supermarket chain owner Royal Ahold will sell its U.S. Foodservice unit to two private-equity firms for $7.1 billion, the Washington Post reported Thursday.
May 3, 2007Business, Safety, Government
House Sets Some Restrictions on Mexican-Trucks Plan
Mexican trucking companies would be barred from handling U.S. domestic shipments, under a bill approved by the House Transportation Committee, Bloomberg reported.
May 3, 2007Business, Logistics
Expeditors’ 1Q Profit Rises
Logistics firm Expeditors International of Washington’s first-quarter profit rose 13% to $59.3 million or 27 cents a share, from $52.4 million or 24 cents a year ago.
May 3, 2007