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Deutsche Post Adds Acquisition
Deutsche Post and its Swiss logistics subsidiary, Danzas, announced a plan to pay about $584.6 million to take over Royal Nedlloyd’s European Transport and Distribution division.
March 22, 1999Seth Clevenger and Mike Senatore dive into the Transport Topics Top 100 list of the largest logistics companies. They address trade challenges, mergers, sector trends and more.
Transit Group Acquires KAT Inc.
Transit Group has acquired KAT Inc. of Chesterton, Ind., for $725,000 in cash and 812,000 shares of Transit Group common stock.
March 22, 1999Bo Wevil Express Strengthens Its Position With Acquisition
Bo Wevil Express has acquired the dry van division of A.J. Metler Hauling & Rigging of Morristown, Tenn.
March 22, 1999Arkansas Best to Sell Export Unit
Arkansas Best Corp., the parent of ABF Freight System, will sell Clipper International, the international freight forwarding division of its Clipper Group.
March 22, 1999States Face New Terms for Funds
The federal program that provides a majority of the funding for roadside truck and driver inspections may be getting a tune up to hold states more accountable for results.
March 22, 1999FedEx Scores Hockey Deal
Federal Express Corp. of Memphis, Tenn., has entered a multiyear sponsorship agreement with the National Hockey League, the National Hockey Players’ Assocation and USA Hockey.
March 22, 1999Diesel Fuel Price Hits 15-Week High
TT File PhotoThe price of diesel rose sharply this week in the wholesale and retail markets, and analysts expect them to continue rising from some of the lowest levels since 1994. The $1 for a gallon of self-service diesel is a 15-week high, according to the Energy Information Administration.
March 19, 1999U.S. Says Hoffa Should Take Office
The Justice Department said it believes James P. Hoffa should be installed as president of the Teamsters union, despite an opponent’s court challenge of his election victory.
March 19, 1999Britain’s ‘Soul-Destroying’ Fuel Tax
After seven diesel fuel tax increases in six years, Britain’s small trucking companies and owner-operators “are just giving up,” said Peter Knight, owner of Les Knight Transport.
March 19, 1999FDX Reports Increased Earnings
The parent company of Federal Express Corp. posted better-than-expected profits despite spending $90 million to prepare for a strike that was averted. FDX also announced a 2-for-1 stock split.
March 19, 1999