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TRUCKING INDUSTRY * Canada & *USA - On the Move
The rising cost of diesel fuel has made moving product by truck an increasingly challenging and expensive process, and the domestic trucking industry has more challenges ahead
AZ,USA -Recycling Today -19 Nov 2007: -- ... Said Mark Martin of Swift Transportation, who spoke on the Transportation Panel at the Paper Stock Industries (PSI) Fall Conference held recently in Arizona... In the past two months alone, the increase in the price of diesel fuel has lead to a 0.10 cent per mile increase in operating costs, Martin said. “It’s destroying budgets”... High fuel costs are also likely to drive consolidation in the trucking industry as well as lead to an increase in companies that are forced to file bankruptcy, he added... Another factor to consider is rising freight costs, Martin said...
* NY private equity buys Consolidated Fastfrate
New York,NY,USA -Truck Stop Canada (CAN) -20 Nov 2007: -- The majority interest of LTL intermodal carrier Consolidated Fastfrate and its affiliates Canada Drayage Inc. and Koch Transport have been acquired by Fenway Partners, a N.Y private equity firm... Fastfrate is one of Canada's largest for-hire transportation and logistics companies and the country's third largest intermodal carrier...
* Canada - Irving dynasty on the verge of splitting companiesSaint John,NB,CAN -Globe & Mail/Today's Trucking -21 Nov 2007: -- New Brunswick's powerful Irving family, which owns dozens of companies in Canada -- including a handful of trucking fleets -- may be mulling a breakup of all their assets... The newspaper, quoting sources close to the three principle owners -- brothers J.K., Arthur and Jack -- reports that the family is on the verge of splitting up its $6 billion business empire because of a "succession impasse" among family members... For starters, the oil-energy business, managed by Arthur and his sons, would break away from the forestry division, run by J.K. and his children... The Irvings' business interests include Irving oil, forestry companies, retail, newspapers, and trucking carriers. Transport firms under the corporate family umbrella include Midland Transport, Sunbury Transport, RST Industries, and JDI Logistics. NB Southern Railway and some marine shipping companies are also owned by the Irving Group...
* USA - PTS to sell most of its assets to Allied Systems Holdings for $67M
Buffalo, NY,USA -CCJ -21 Nov 2007: -- Performance Transportation Services -- a domestic carrier of new automobiles, sport-utility vehicles and light trucks in North America -- announced Tuesday, Nov. 20, that it has entered into a nonbinding letter of intent with Allied Systems Holdings Inc., pursuant to which it would sell substantially all of its assets to Allied for $67 million in cash, plus the assumption of certain liabilities, as well as the issuance of warrants to certain of PTS creditors...
Labels: trucking industry analysis USA
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