Con-way Inc. unit Menlo Worldwide and Cougar Logistics Corp. said Thursday they have signed an agreement under which Menlo will purchase Cougar for $33.9 million.
June 7, 2007GovernmentBusinessTechnologyLogistics
Hub Group Buys Intermodal Firm
Third-party logistics company and freight broker Hub Group said it will acquire the assets of Interdom Partners, an intermodal marketing company, for $26 million.
June 7, 2007BusinessLogisticsAutonomous
Norfolk Southern Plans $2 Bln. Rail Corridor
Eastern freight rail line Norfolk Southern Corp. plans to build a rail corridor costing more than $2 billion from Louisiana to the Northeast that it said would speed shipments and reduce truck freight, the Associated Press reported.
June 7, 2007BusinessFuelGovernmentLogistics
Ceva Secures EGL Financing
The private-equity parent company of Ceva Group has received a commitment of $2.95 billion in debt financing to fund the buyout of air freight forwarder EGL Inc., Bloomberg reported Tuesday.
June 6, 2007GovernmentBusinessSafetyLogistics
Border Measures Boosting Costs
Security measures at the Canada-U.S. border introduced since 9/11 have not slowed the flow of goods into the United States but have added to costs for Canadian companies, according to new report, the Ottawa Citizen newspaper reported.
June 5, 2007FuelBusinessLogisticsGovernment
Diesel Dips 1.8¢ to $2.799; Gas Falls 5.2¢ to $3.157
Diesel fuel’s national average retail price fell 1.8 cents to $2.799 a gallon, while gasoline dropped more than a nickel to $3.157, the Department of Energy reported Monday.
June 5, 2007BusinessLogisticsGovernment
U.S. Truck Freight Falls
U.S. truck tonnage in the United States declined again in April — the ninth downturn in the past 10 months — showing the effects of a national economy in flux.
June 4, 2007BusinessLogistics
Ceva’s First-Quarter Loss Widens
Ceva Group Plc said it lost 14.9 million euros (about $20 million) in the first quarter, compared with a loss of 7.7 million euros ($10.4 million) a year earlier.
May 31, 2007BusinessLogisticsGovernment
Chicago Factory Index Rises in May
Manufacturing activity in the Chicago region accelerated in May, the National Association of Purchasing Management said Thursday.
May 31, 2007FuelBusinessLogisticsGovernment
Diesel Climbs 1.4¢ to $2.817
Diesel fuel’s national average pump price rose for a second straight week, gaining 1.4 cents to $2.817 a gallon, the Department of Energy said Monday.
May 30, 2007