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Truckers Truck On, Despite Recession Scares preview image Truckers Truck On, Despite Recession Scares article image

Truckers Truck On, Despite Recession Scares

Is Canada in an economic recession? That all depends on how you define the term. And even if the answer is yes, will it slow down the trucking industry? According to most economists, a recession is when there are at least two consecutive quarters of negative growth in the country's gross domestic product, which is a measure of the total output of goods and services. Canada's GDP fell at an annual rate of 0.6% in the first quarter of 2015, according to government numbers, following 0.6% growth in the final quarter of 2014. A report released at the end of June showed a 0.1% drop for the month of April, meaning our economy shrank for the fourth straight month. Not a full second quarter, but not a good trend.

N.A. Decline in Truck Orders Not Surprising preview image N.A. Decline in Truck Orders Not Surprising article image

N.A. Decline in Truck Orders Not Surprising

COLUMBUS and BLOOMINGTON, IN - Orders for both medium-duty and heavy-duty trucks in North America posted declines, according to two newly released preliminary reports, but the markets remain healthy. For the month of June, 34,600 Classes 5-8 vehicle orders were booked, down 14% from May and 17% less compared to June 2014, according to ACT Research. The commercial vehicle industry data provider said it believes the recent order decline is a reflection of meaningfully larger backlogs rather than any structural change in demand.

Stemco Completes Goodyear Springs Purchase preview image Stemco Completes Goodyear Springs Purchase article image

Stemco Completes Goodyear Springs Purchase

LONGVIEW, TX - Less than a month after the truck component supplier Stemco announced its intention to acquire the manufacturer of Goodyear air springs, it completed the deal on July 1. Terms of the transaction have not been released. With the acquisition, Stemco acquires the Super Cushion and Spring Ride lines of truck, trailer and truck cab suspension products, as well as cab seat springs from ContiTech, a division of Continental Corp. This unit was part of the business called Veyance that was recently acquired by Continental. Also included in the acquisition are the Veyance manufacturing facility in San Luis Potosi, Mexico, the Veyance research and development operations in Fairlawn, Ohio, and all North America related patents and applications.