C. H. ROBINSON * USA: Total transportation declined 5.6%
* Minnesota - Logistics firm’s revenue and profit fall hurt by weak pricing
--- Logistics firm C.H. Robinson Worldwide Inc. said Wednesday that cheaper truck-hauling alternatives caused its intermodel business to fall by nearly a quarter, weighing on the overall transportation segment... Total transportation fell 5.6% as truckload net revenues fell 10.4%. Ocean transportation net revenues retreated 3.1% while air transportation slipped 1.7%... The company added that it completed its acquisition of Melbourne, Australia-based APC Logistics which provides freight forwarding and customs brokerage services in Australia and New Zealand... C.H. Robinson will pay $229 million in cash for APC, the latest in a string of acquisitions totaling more than $1 billion since 2010. The company’s last acquisition was Freightquote.com Inc., an online trucking marketplace for which it paid $365 million in early 2015...
(PHOTO: GETTY IMAGES - C.H. Robinson, the largest freight broker in the U.S., said its net revenue for truckload business fell 10.4%) -- Eden Prairie, MINN, USA - The WSJ, by EZEQUIEL MINAYA - Oct. 25, 2016
Labels: trucking industry news USA