Fleet Expansion Generates Record Profits at P.A.M. Transportation Services in 3Q
Higher rates and a bigger fleet in a strong freight market produced record profits for P.A.M. Transportation Services in the third quarter.
October 16, 2018J.B. Hunt Revenue Soars, but Profits Lag in Third Quarter
J.B. Hunt Transport Services reported a big bump in revenue in the third quarter as higher rates boosted the top line for each of its four freight segments. Profits, however, did not keep pace as the company dealt with outstanding legal issues and absorbed start-up costs for several new large dedicated hauling contracts.
October 16, 2018Element Sells Stock, Winds Down Investment in Celadon Joint Venture
Element Fleet Management Corp. has sold 45 million shares of stock to a group of banks and investment firms for $300 million and will use the net proceeds to pay down debt and implement a plan to “meaningfully” improve the company’s financial performance and position the business for growth.
October 15, 2018Greenbriar Acquires Telematics Firm Spireon From Bertram Capital
Bertram Capital announced the sale of Spireon Inc., a fast-growing truck and trailer telematics provider, to Greenbriar Equity Group, a handoff welcomed by Spireon CEO Kevin Weiss as a way to expand the business further.
October 12, 2018Grammer Industries Looks to Expand After Buyout by Stellex Capital Management
The family of Charles “Shorty” Whittington and a group of top executives at Grammer Industries Inc. have teamed with Stellex Capital Management to acquire the bulk chemical hauler from another investment firm, Linx Partners.
October 11, 2018Economy Puts New Demands on Logistics Firms, Surveys Find
A robust economy is placing new demands on third-party logistics service providers, based on survey results from two long-running university-sponsored studies released at the Council of Supply Chain Management Professionals annual conference in Nashville, Tenn.
October 11, 2018CSCMP Honors Innovators at Annual Supply Chain Conference
An effort by a team of data scientists at Intel to use artificial intelligence and cognitive computing tools to identify supply chain threats earned the top award for innovation at the 2018 Council of Supply Chain Management Professionals annual conference in Nashville, Tenn. on Oct. 3.
October 11, 2018Transplace Acquires Yusen’s Intermodal, Freight Brokerage Business
Transplace Inc. has acquired the intermodal and freight brokerage business in North America of Yusen Logistics (Americas).
October 10, 2018Post Capital Partners, Management Team Up to Acquire Smith Transportation Services
Smith Transportation Services, a company based in Sunrise, Fla., that specializes in “load-to-ride” service for shippers of less-than-truckload freight, is being purchased by a group of Smith’s top executives and the New York-based investment firm Post Capital Partners.
October 10, 2018Bulk Food Haulers Cliff Viessman Inc., Johnsrud Transport to Merge
The owners of two long-established trucking companies specializing in food-grade transportation services — Cliff Viessman Inc. in Gary, S.D., and Johnsrud Transport Inc. in Des Moines, Iowa — have agreed to merge their businesses.
October 9, 2018