07 Feb Brixey & Meyer Capital Acquires CityDash Investment firm Brixey & Meyer Capital announced it has acquired CityDash, a company based in Cincinnati that offers local and regional delivery services for packages and freight. Read more...
07 Feb Americold Acquires PortFresh Warehouse, Plans Port of Savannah Expansion Cold storage warehouse operator Americold acquired PortFresh Holdings in Savannah, Ga., and said it will build a 15 million-square-foot cold storage facility on an adjacent site as part of a move to increase the firm’s share of the market for food imports and exports at the Port of Savannah. Read more...
07 Feb Amazon Cuts Deal to Unfreeze Suspended Product Listings in India Amazon.com resurrected thousands of suspended product listings in India by selling much of its stake in top local venture partner Cloudtail, a hastily arranged deal intended to comply with stringent new e-commerce regulations that upended the market. Read more...
07 Feb DSV Says Takeover Goal ‘Not Dead’ as Panalpina Speculation Grows DSV A/S, one of the world’s biggest freight forwarding companies, will pursue a plan to take over Panalpina even after the Swiss company’s biggest shareholder made clear it’s opposed to the tie-up. Read more...
07 Feb Old Dominion Reports Revenue Gains for 4Q, Full Year Old Dominion Freight Line Inc. on Feb. 7 reported strong fourth-quarter and full-year results. Read more...
07 Feb Steel Expected to Struggle on China Tariffs After two years of bumper profits, the steel industry is entering a slowdown. ArcelorMittal, as well as smaller European producers like Salzgitter AG and Voestalpine AG, are sounding the alarm about weakening conditions, particularly in China. The country, which uses about half of the world’s steel, is now expected to see a drop in demand, the first contraction since 2015. Read more...
07 Feb Mullen Group Takes Hit From Downturn in Oil Field Services Mullen Group reported higher revenue and profits in the fourth quarter of 2018 despite a “market meltdown” caused by falling oil prices that curtailed demand for transportation services as the year ended. Read more...
07 Feb Port Authority in Pittsburgh Seeks $3 Million From Norfolk Southern for Derailment Costs The Port Authority of Allegheny County in Pennsylvania is asking Norfolk Southern Corp. for $3 million to reimburse costs incurred during the August derailment at Station Square that disrupted light rail traffic for nearly three weeks. Read more...
07 Feb Werner Enterprises Posts Record Results Werner Enterprises produced record revenue and higher profits in the fourth quarter of 2018 as a strong economy fueled demand for both its trucking and logistics services. Read more...
07 Feb Gas-Tax Hike Needed for Roads, Maintenance, Ohio Transportation Panel Says After two meetings, a committee formed by Gov. Mike DeWine to study options for fixing a shortfall in money for road construction and maintenance has come to a consensus that the state gasoline tax needs to increase. Read more...