business

Meritor buying Siemens electric propulsion business

Deep blue illustration of Siemens -imagine electric truck and bus

Even as its $3.7 billion merger with Cummins Inc. proceeds, Meritor Inc. said Friday it has agreed to purchase the Siemens Commercial Vehicles electric propulsion business. The move would bulk up its electrification portfolio.

The battle among players in commercial vehicle electrification is growing fierce. Tier 1 suppliers like BorgWarner Inc., Dana Inc., Eaton Corp. and Cummins are jockeying for market share in fully integrated systems to meet the expected growth in electric trucks.

“The...

https://www.freightwaves.com/news/meritor-buying-siemens-electric-propulsion-business

LGT Transport acquires Nebraska liquid fertilizer transporter

Omaha, Nebraska-based LGT Transport announced it has acquired Jason Thomas Trucking, a provider of liquid fertilizer transportation in the Midwest.

The acquisition of Hastings, Nebraska-based Jason Thomas Trucking boosts LGT Transport’s growth in the agricultural sector, officials said.

“Jason Thomas Trucking shares our same commitment to drivers and customers,” said Pam Spaccarotella, CEO and founder of LGT Transport, in a release. “We believe together, we will create an even greater extended...

https://www.freightwaves.com/news/lgt-transport-acquires-nebraska-fertilizer-transporter

Baird analyst sees $86 takeover offer for Ryder as undervalued

Ryder System’s shares are now trading roughly $5 less than the offer price put forth last week by HG Vora Capital, pushing it even further away from what Wall Street company Baird sees as the potential value of the company.

In a report issued in the wake of the acquisition offer by the private equity company, Baird analyst Garrett A. Holland did not refer to Ryder’s valuation through a “sum of the parts” prism, which was raised in the wake of the HG Vora offer. The idea behind a sum of the parts...

https://www.freightwaves.com/news/baird-analyst-sees-86-takeover-offer-for-ryder-as-undervalued

EXO Freight raises $15M to meet growing open deck demand

Royal Oak, Michigan-based EXO Freight announced Thursday it raised $15 million in a series A fundraising round led by Left Lane Capital with participation from Detroit Venture Partners to continue building onto its digital freight marketplace tailored to the open deck trucking market.

The company has raised a total of $16.5 million since 2021 with previous investors including 1984 Ventures, 12BF Global Investments, Lancaster Investments and Y Combinator.

Related: Startup EXO Freight tackles lack...

https://www.freightwaves.com/news/exo-freight-raises-15m-to-meet-growing-open-deck-demand

Supply chains are never returning to ‘normal’

container terminal

The conventional wisdom at this time is that most of the world has moved on from the pandemic (except for China); therefore, supply chains will return to “normal.” Unfortunately, this is not the case. The world has permanently changed and supply chains are going to face continuing challenges for decades to come. Among those challenges are:

  • Supply chains will remain under constant threat of disruption for the next decade 
  • Supply chains operate best when the world is peaceful and stable 
  • A...

https://www.freightwaves.com/news/supply-chains-are-never-returning-to-normal

Target earnings fall short as supply chain struggles persist

Target store earnings report 2022

The conventional wisdom among Wall Street analysts was that shoppers would return to stores and drive bounce-back quarters for big box retailers in Q1 2022. But amid continuing supply chain struggles, only the first half of that assumption has held true.

Target Corp. (NYSE: TGT) reported Q1 2022 earnings before the bell Wednesday that revealed strong sales growth but dwindling profits. The retailer missed sharply on earnings per share, much like competitor Walmart (NYSE: WMT), which reported...

https://www.freightwaves.com/news/target-earnings-fall-short-as-supply-chain-struggles-persist

FreightWaves Classics/Fallen Flags: A&CR provided Astoria a transportation link  

Commuters and stacks of lumber wait to board/be loaded on the A&CR. (Photo: Lower Columbia Preservation Society)

Background

In 1811, the town of Astoria, Oregon Territory was founded at the mouth of the Columbia River. Because of its location, many of the town’s civic and business leaders thought Astoria would become a key port. However, once ships entered the Columbia River, the majority of them continued upriver to Portland. 

While Astoria was founded in a beautiful area on the Oregon coast, it was isolated from much of the rest of the territory (and later the state). Since the town would not become a...

https://www.freightwaves.com/news/freightwaves-classicsfallen-flags-acr-provided-astoria-a-transportation-link

Free trade is dead, welcome to ‘Freedom Trade’ 

Image of U.S. and Chinese flags, with a rupture between them indicating conflict.

American enterprises and consumers should move away from Chinese dependency and demand that supply chains are orientated toward what I call the “Freedom Trade,” a system built on the idea that the rule of law, domestic free markets, human rights, and environmental standards are necessary for global prosperity and peace. 

Supply chains operate best when there is predictability and peace – and the only way to guarantee this is to ensure that countries operate within the Freedom Trade system.  

Suppl...

https://www.freightwaves.com/news/free-trade-is-dead-welcome-to-freedom-trade

The Log Book: Trailer Bridge, ATS International boost housing in Puerto Rico

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: Trailer Bridge and ATS International donate to Habitat for Humanity of Puerto Rico, UPS makes $38,000 in donations to Down Syndrome Alabama and MSC moves Operation Smile medical supplies.

Trailer Bridge, ATS International boost housing in Puerto Rico

Freight servicers Trailer Bridge Inc. and ATS International recently announced they have donated $100,000 for Habitat for Humanity of Puerto...

https://www.freightwaves.com/news/the-log-book-trailer-bridge-ats-international-boost-housing-in-puerto-rico

Breaking News: Ryder target of takeover attempt by private equity firm

Nine trucks with the logo of Ryder written on them are parked at a facility

Ryder System is the target of a takeover attempt by a private equity company.

HG Vora Capital Management, with its headquarters in New York City, filed a 13-D form with the Securities and Exchange Commission Friday morning that said it was proposing to acquire all the shares of Ryder (NYSE: R) at a price of $86 per share. According to the filing, that represents a 24.8% premium to the 30-day trailing average of the stock and a 20.3% premium to the closing price of Ryder on Thursday.

Ryder’s...

https://www.freightwaves.com/news/breaking-news-ryder-target-of-takeover-attempt-by-private-equity-firm

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