Business
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
GM Invests Additional $28 Million in Battery Lab
With plans to launch 20 new electric vehicles globally by 2023, General Motors CEO Mary Barra said the automaker will make “major enhancements” to its battery lab in Warren, Mich.
September 5, 2018Gryphon Investors Buys Majority Stake in Transportation Insight
Gryphon Investors has acquired a majority stake in Transportation Insight, a Hickory, N.C.-based logistics consulting and transportation management firm, for an undisclosed amount.
Amazon Orders 20,000 Mercedes Vans to Bolster Delivery Program
Daimler AG is emerging as a beneficiary of Amazon.com Inc.’s booming package-delivery needs, with the e-commerce giant ordering 20,000 of the German automaker’s Mercedes-Benz Sprinter vans.
Kriska Transportation Group Acquires Refrigerated Carrier BTC Express
Kriska Transportation Group announced the purchase of BTC Express, a refrigerated truckload carrier operating in Canada and the United States.
September 5, 2018Transporeon Group, TIM Consult Plan to Merge
Transporeon Group and TIM Consult GmbH announced plans to merge in an effort to provide a broader portfolio of logistics consulting and procurement services for shippers.
September 5, 2018Descartes Acquires PinPoint GPS Solutions
Descartes Systems Group has acquired PinPoint GPS Solutions Inc., a provider of fleet-tracking and mobile workforce management services based in Mississauga, Ontario, for cash and stock valued at C$15 million.
September 5, 2018M&K Truck Centers Expands in Michigan
M&K Truck Centers has expanded its business in Michigan with the purchase of Volvo truck dealerships in Flint and Saginaw from Graff Truck Centers.
September 5, 2018Cargomatic Gets $35 Million in New Funding
Cargomatic has secured $35 million in additional funding from Warburg Pincus to continue expanding its load-matching business for drayage and shorthaul trucking markets, according to the San Francisco-based firm.
September 5, 2018DOT IG to Audit FRA Vehicle-Train Collision Data
Citing a persistent increase in the number of vehicle-train collisions at highway-rail grade crossings in recent years, the Department of Transportation Office of Inspector General has informed the Federal Railroad Administration that it is conducting an audit of the agency’s incident data.
Fiat Chrysler Spends $30 Million on Self-Driving Test Site Near Detroit
Fiat Chrysler Automobiles is adding more muscle to its self-driving vehicle testing efforts. The company will spend more than $30 million at a new testing and development facility at its Chelsea Proving Grounds west of Detroit.