* USA/Texas - Greenbriar Wins Bidding War for Dynamex
Dallas,TX,USA -The Journal of Commerce Online, by William B. Cassidy -Dec 1, 2010: -- Same-day carrier Dynamex accepted a sweetened acquisition offer of $238 million from Greenbriar Equity Group, turning down a rival offer from an unnamed suitor... Greenbriar upped its offer for Dynamex from an initial $210 million. The deal will add Dynamex to Greenbriar's $1.5 billion portfolio of transportation investments... Greenbriar's rival for Dynamex may have been Canadian transport giant TransForce, according to a report in Canada's The Globe and Mail newspaper... Dynamex sources 38 percent of its sales in Canada -- roughly $154 million in its last fiscal year, up 6.8 percent from the previous year... (Photo from hankstruckpictures: Here is a GMC D unit from Dynamix based in Cambridge, Ont., CAN)
* Canada - Vitran Sells Truckload Assets. Cross-border trucker to focus on expanding LTL, supply chain business
Toronto,ONT,CAN -The Journal of Commerce Online, by William B. Cassidy -Dec 1, 2010: -- Vitran is selling off most of its truckload assets for $5 million to focus on its core less-than-truckload and logistics business, the Canadian-based company said... Online Transport of Indianapolis is buying nearly 800 trailers operated by Frontier Transport, while Vitran will add 174 of Frontier's newest trailers to its LTL division... President and CEO Rick Gaetz said Frontier had taken "a back seat" over the past few years at Vitran, which reported $629 million in revenue in 2009... Frontier accounted for less than 5 percent of the Toronto-based company's revenue in the last quarter, and while profitable, it had an operating ratio of 99.2... Its truckload revenue also dropped compared with the previous quarter, while LTL rose about 1.2 percent on a small sequential quarterly increase in shipments... (Photo from t0.gstatic: Vitran)
* USA/Arizona - Swift Sets $1 Billion Target in IPO
Phoenix,AZ,USA -The Journal of Commerce Online by William B. Cassidy -Dec 2, 2010: -- Carrier ups ante in plan to return to Wall Street, public ownership... Swift Transportation raised the stakes in its initial public offering this week to $1 billion as it launched a stock sale first announced in August... Back then, the company expected to raise about $700 million on Wall Street. It now expects to raise a maximum of $1 billion selling 67 million shares at $15 each... Swift Transportation is the nation's largest truckload operator when ranked by revenue, with $2.6 billion in sales last year and a net loss of $435.6 million... The carrier's operating margin rose from 3.5 percent in the first quarter to 8.3 percent in the second quarter and 10.8 percent in the third, it said Nov. 30... (Photo from t1.gstatic)Labels: trucking industry news USA and CAN
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