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IN PRINT — The Clock is Ticking: Consumer demands transform trucking preview image IN PRINT -- The Clock is Ticking: Consumer demands transform trucking article image

IN PRINT — The Clock is Ticking: Consumer demands transform trucking

Seventeen years ago, Tom Hanks stood in a shipping yard and lamented that 87 hours was an eternity. Castaway was on the big screen, and the Hollywood superstar was playing a time-obsessed operations manager for a world-wide shipping company. Shouting that "the cosmos [were] created in less time. Wars have been fought and nations toppled in 87 hours. Fortunes made and squandered," Hanks was forecasting the future of the supply chain. From 87 hours to just 24 or less, time is running out for goods that take more than a day to get to consumers, and trucking is undergoing massive changes, all thanks to a store that sells just about everything: Amazon.

Titanium acquires Xpress Group

BOLTON, ON - Titanium Transportation Group has acquired Xpress Group, a van and flatbed carrier based near Windsor, Ontario. The deal is worth $3.1 million in cash, $420,000 in common shares, and the assumption of about $5.2 million in debt. "This is exactly the type of acquisition we have been waiting for," said Ted Daniel, Chief Executive Officer of Titanium. We expect to be able to achieve significant synergies between Titanium and Xpress. In addition, Xpress' customer base complements the cross-border, full truckload division that we have focused on growing."

Celadon refinancing amid SEC investigation

INDIANAPOLIS, IL - The Celadon Group continues to restructure its assets in an attempt to create more liquidity, while it is being investigated by the Securities and Exchange Commission (SEC). The company, which owns Celadon Trucking and Celadon Logistics, as well as other subsidiaries, announced this morning that as part of the continuing implementation of its new strategic plan, it has refinanced its revolving credit and extended equipment leases that were maturing in 2018. Celadon's short-term revolving credit restructuring was done through Bank of America, and has a maturity date at the end of fiscal 2017. In addition it received US $22.6 million in equipment term loans secured by existing tractors and trailers used in their Hyndman subsidiary.

CAT shocks market with SLH acquisition

KINGSTON, ON - CAT Holding has made another acquisition. The truckload carrier has purchased Kingston, Ontario-based SLH Transport, it announced today. This is the second acquisition for CAT in 2017, with the company purchasing Group Express Groupex in January. CAT President Daniel Goyette says the group will gain an enormous boost in capacity and coverage for North America with the addition of both companies. SLH -- at one time a private fleet operated specifically for Sears department stores, before becoming a for-hire operation -- was previously named to the 13th position of Today's Trucking's Top 100 carriers list.

Automatic grease jockey smooths the way for uptime

ATLANTA, GA - Dan Jensen admits that talking grease isn't sexy. The global product marketing manager for Graco was at the North American Commercial Vehicle Show to promote the latest in the company's line of automatic lubrication pumps, and said that the crowds he often speaks to at trade shows are small, because grease just isn't as fun a topic as shiny new trucks or tires. In the end though, grease is what makes everything go.

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