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TRUCKING INDUSTRY NEWS * USA - FFE Layoffs Off 150
Reefer truck specialist cuts costs as pricing, capacity hit finances
Dallas,TX,USA -The Journal of Commerce -Apr 3, 2009: -- Refrigerated trucker Frozen Food Express, which had withstood the economic downturn with growing profits and revenue last year, announced it has cut 150 positions and is taking other actions to reduce costs... Dallas-based FFE said 110 of the layoffs came in the last two weeks. The company also said it suspended matching 401(k) retirement contributions for workers, reducing non-variable costs and “consolidating duplicative efforts” in its operations... In a statement warning that its first quarter revenue and earnings likely will fall below levels of last year, FFE President and CEO Mit Stubb said the company is seeing pricing pressure and excess capacity across the industry... The layoffs came in non-driver jobs... (Photo from hankstruckpictures)
* USA - Private Equity Firm Buys L.A. Trucking Company
Los Angeles,CAL,USA -Transport Topics -6 april 2009: -- Private equity firm Atlantic Street Capital said Monday it has acquired EZE Trucking, which provides specialty logistics services for the infrastructure market. Terms were not disclosed... Founded in 1972, EZE Trucking is a heavy-haul transporter based in Los Angeles. The company since 2001 grew from a local provider to a diversified national company... The company has market share in California, Arizona, and Nevada and a specialty operation. It hauls such freight as cranes and heavy equipment, oversized storage tankers, structural support beams, water transmission infrastructure components, and other large specialty material...
* Illinois Trucking Company Folds
Oshkosh,Wis,USA -Transport Topics -6 April 2009: -- An Illinois trucking company that carries mail in 14 states has closed its doors, a Wisconsin television station reported... About 26 people will lose their jobs at the Oshkosh, Wis., terminal of Hartwig Transit, based in Schiller Park, Ill... Hartwig is a family owned trucking company that hauls U.S. mail in 14 Midwestern states, the station said... Hartwig had about 100 tractors and 200 trailers, according to 2006 American Trucking Associations’ industry fleet data...
Labels: trucking industry news USA
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