Performance Food Group Co. agreed to buy Reinhart Foodservice for $2 billion in a combination of U.S. food suppliers.
July 1, 2019Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
Top Ocean Freight Forwarders
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Extras
Management Team of PTL Buys Company From Magnate Worldwide
Premium Transportation Logistics announced its senior management team — current President Jeff Curry, Operations Manager Keith Avery and expedited transportation sales veteran, Brad Kelley — has acquired PTL from Magnate Worldwide.
July 1, 2019Performance Food to Buy Rival Supplier Reinhart for $2 Billion
FRA Awards Grant to Georgia Central Railway
Dublin, Ga., has earned $8 million in grants for improvements to its rail infrastructure. A $4 million grant from the Federal Railroad Association was given to the city through its Consolidated Rail Infrastructure and Safety Improvements Program, which was matched by the Georgia Central Railway.
Musk Seeking Tesla Deliveries Record Could Be a Double-Edged Sword
Analysts’ fear is that even if Tesla does show marked improvement in deliveries this quarter, Musk will achieve this at the expense of profitability. And with a shrinking U.S. tax credit posing a threat to demand in the second half of the year, Tesla’s efforts to hand over more Model 3s overseas could further compromise earnings because of relatively higher shipping expenses.
Brookfield Buys Rail Operator Genesee for $8.4 Billion
An affiliate of Brookfield Asset Management Inc. agreed to buy railroad company Genesee & Wyoming Inc. for about $6.3 billion, expanding its global portfolio of rail companies with a 120-line network spanning North America, Europe and Australia.
Midwest Deluge Spurs Cut in US Estimate for Soybean Acreage
The spring deluge in the Midwest and Great Plains spurred a cut in the U.S. forecast for soybean acreage, a bigger reduction than analysts expected.
Ford to Cut 20% of European Workforce in Sweeping Overhaul
Ford Motor Co. will eliminate about 20% of its workforce across Europe in a sweeping overhaul to tackle the carmaker’s falling sales in the region and lift weak profitability.
Convoy Creates Method for Drivers to Book Multiple Loads at Once
Digital freight broker Convoy announced Automated Reloads, an app-based program that allows drivers to book multiple loads of freight at one time.
Tesla Must Go ‘All Out’ to Set Deliveries Record, CEO Elon Musk Says
Tesla Inc. could be on the verge of a quarterly record for vehicle deliveries, though the electric carmaker will need to go “all out” in the last few days of the month, CEO Elon Musk wrote in an internal memo.
Surging Corn Prices Put US Wheat Back in the Feed Trough
A looming shortfall in U.S. corn production after a historical spat of wet weather means wheat is back on the menu at cattle feedlots in the southern Plains.