Last-mile delivery

UPS partners with Mexican firm for international shipping

United Parcel Service (UPS) and Estafeta have announced a partnership to provide Mexican businesses with international shipping services.

The new agreement will help small and midsize businesses (SMEs) in Mexico reach more than 220 countries and territories around the world, as well as customers in the United States within one business day.

“The future is about nimble networks and strategic partnerships,” said Nando Cesarone, president of UPS International, in a release. “The timely collaboration...

https://s29755.pcdn.co/news/ups-partners-with-mexican-firm-for-international-shipping

Pilot Freight expands corporate umbrella

Pilot Freight Services, a 50-year-old logistics services provider with roots in airfreight, has placed five long-time, franchise-operated offices under its direct management.

The former franchises are located in Texas, Wisconsin and Mexico. Pilot said the acquisition of these offices was attractive due to their “strong historical growth and operational performance” for the overall company.

Financial terms of the acquisitions, effective today, July 1, were not disclosed by either Pilot or its...

https://s29755.pcdn.co/news/pilot-freight-expands-corporate-umbrella

$70 million financing keeps Workhorse’s share surge humming

Parked Workhorse van

Shares of Workhorse Group Inc. (NASDAQ: WKHS) continued their ascent after the company announced a new $70 million financing agreement.

The designer and maker of electric vehicles and truck-mounted delivery drones entered into a financing agreement with institutional investor, HT Investments (High Trail Capital), for a $70 million senior secured convertible note. The note is convertible into common stock by the investor at $19 per share, a 31% premium to the June 29 closing price of $14.51.

The...

https://s29755.pcdn.co/news/70-million-financing-keeps-workhorses-share-surge-humming

Commentary: Newark is a hub for logistics – and logistics startups

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

As one of the largest world-class logistic hubs, Newark, New Jersey is strategically situated between the Port of Newark and the Port of Elizabeth and Newark Liberty International Airport, efficiently moving millions of tons of freight each year. Together, Port Newark and Port Elizabeth comprise the second-largest port in the U.S. and can handle north of 2...

https://s29755.pcdn.co/news/commentary:-newark-is-a-hub-for-logistics-–-and-logistics-startups

FM Logistic’s operating income up 20%; future guidance withheld

French trucks on break

French-based third-party logistics provider FM Logistic on Wednesday reported 21% year-over-year growth in earnings before interest and taxes (EBIT) for its fiscal year ended March 31.

Operating income of 42.5 million euros (U.S. $47.8 million) was the result of only modest revenue growth of 8.7% at 1.43 billion euros (U.S. $1.61 billion). Excluding foreign exchange rates, revenue increased 8% during the year. Management said the increase came from “entirely organic” growth.

“FM Logistic again...

https://www.freightwaves.com/news/fm-logistics-operating-income-up-20-future-guidance-withheld

Last-mile startup GoFor raises C$9.8 million as builders shift to e-commerce

A vehicle on GoFor's on-demand delivery platform for the construction industry. The company recently closed on a round of seed funding.

GoFor Industries plans to bring its on-demand last-mile delivery service for the construction industry to more markets in the U.S. and Canada after closing on C$9.8 million in seed funding. 

The Canadian startup announced the new funding on Wednesday. The capital will help GoFor scale as everyone from construction companies to do-it-yourself home improvement enthusiasts increasingly embraces buying building materials online.

“It’s forcing a transformation — a move to e-commerce — in verticals...

https://s29755.pcdn.co/news/last-mile-startup-gofor-raises-c9-8-million-as-builders-shift-to-e-commerce

Report: GM starting electric delivery van program

General Motors electric van


General Motors Co. is planning an electric delivery van, adding to the list of carmakers and startups planning vehicles for the last-mile delivery segment, according to a Reuters report.

The GM electric van is code-named BV1, the report stated, and is due to go into production in late 2021 at the automaker’s Detroit-Hamtramck factory.

GM spokesman Stuart Fowle said the company is not confirming the news. The automaker has said previously that it will build several other electric vehicles at the...

https://www.freightwaves.com/news/report-gm-starting-electric-delivery-van-program

DispatchTrack secures $144M growth investment

DispatchTrack, a last-mile logistics technology company, announced on Tuesday that it has received a $144 million growth investment led by Spectrum Equity, a growth equity firm that specializes in partnering with software, internet and information services businesses.

It is the first time the 10-year-old business has taken on any outside funding, co-founder and CEO Satish Natarajan told FreightWaves. “We bootstrapped it,” he said.

Natarajan founded the Silicon Valley-headquartered DispatchTrack...

https://s29755.pcdn.co/news/dispatchtrack-secures-$144m-equity-investment

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