MULLEN GROUP INCOME FUND has announced it will convert from an income trust into a growth-oriented corporation. The move is in response to the 2006 federal government decision to place restrictions on...
MULLEN GROUP INCOME FUND has announced it will convert from an income trust into a growth-oriented corporation. The move is in response to the 2006 federal government decision to place restrictions on income trusts. Murray K. Mullen, chairman and CEO of the company, says that a 2009 conversion is in the best interests of both Mullen Group and its security holders, especially in light of the current economic downturn and the dramatic decline in crude oil and natural gas pricing. Mullen Group officials also stressed the “challenging” nature of 2009, noting that security holders will see a “material decrease” in their distributions this year, while Mullen employees will experience a wage freeze, hiring freeze and see the suspension of the company’s profit-share program.
TRIMAC has purchased bulk fertilizer transporter CANAMERA CARRIERS. Canamera is a bulk trucking and warehousing company that specializes in fertilizer, agricultural products and road salt in the provinces of Saskatchewan, Alberta and Manitoba. The carrier is based in Yorkton, Sask. Trimac Transportation purchased the business for $2.9 million, which includes the acquisition of 19 company-owned tractors and 24 trailers. The company boasted annual revenue of $7.9 million in its last fiscal year. Trimac will also assume about $1.3 million in debt as part of the deal.
CASCADES TRANSPORT and FPInovations, Feric division were recently named winners of the Technological Innovation award presented by the Association Quebecoise pour la maitrise de l’energie (AQME) at its Energia Gala. The transport company and research group were rewarded for their participation in the Energotest fuel-efficiency tests conducted in 2007 and 2008. Robert Transportation and several government bodies also participated in the tests, which measured the fuel-efficiency of dozens of fuel-saving devices. “It was only natural for Cascades to get involved in such a project, since the protection of the environment has always been and continues to be one of our main concerns,” said Alain Boutin, director of risk management and compliance at Cascades Transport. “The Energotest 2007 campaign not only fit in perfectly with our practices, but also contributed to lowering our operating costs.”
FEDEX CORP. plans to improve the fuel efficiency of its FedEx Express vehicle fleet by 20% by 2020. The ambitious new goal was outlined in the FedEx 2008 Global Citizenship Report released in November. Since 2005, FedEx Express has improved vehicle fuel efficiency by 13.7%, which, combined with its reduction of aircraft carbon dioxide emissions by 3.7% per available tonne mile, has reduced vehicle carbon emissions by almost one billion pounds. FedEx operates the largest fleet of commercial hybrid electric trucks in North America in the transportation industry with more than 170 vehicles. FedEx E700 hybrid electric trucks, the most common hybrid in the FedEx fleet, improve fuel economy by 42%, reduce greenhouse gas emissions by approximately 25% and cut particulate pollution by 96% compared with conventional vehicles, the company says. FedEx Express has also worked to optimize its delivery routes to ensure that the most efficiently-sized vehicle is used on each route. As a result of these efforts, more than one-fourth of the FedEx Express fleet has been converted to smaller, more fuel-efficient vehicles, saving more than 45 million gallons of fuel in the past three years, according to officials.
Two Ontario-based carriers were honoured with SCHNEIDER LOGISTICS’ Carrier of the Year award at the transportation giant’s sixth annual Carrier Recognition Conference in Green Bay, Wis. Sept. 17-18. The distinction is presented to Schneider third-party logistics carriers that serve a variety of transportation modes and excel in operational performance, exceptional service and ease of conducting business. Included in the group of 16 carriers honoured this year were two Canadian carriers: KINGSWAY TRANSPORT of Mississauga, Ont. and OTTAWAY MOTOR EXPRESS of Woodstock, Ont. Carriers recognized at this year’s conference, which hosted representatives from more than 140 carriers, represent the top 1% of service providers moving freight on behalf of Schneider Logistics’ customers.
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