News Briefs - June 8
The Latest Headlines:
- Wabash to Add 150 Workers to Meet Demand
- Postal Service Selects FedEx for International Delivery
- Report: DaimlerChrysler to Save Over $1B Through Shared Production
- Mullen Increases Dividend
- Milestone Equipment Acquires PAL
- Postal Service Selects FedEx for International Delivery
Wabash to Add 150 Workers to Meet Demand
Truck trailer maker Wabash National Corp. said it planned to add about 150 new hourly workers to meet growing production needs."Despite volatile raw material prices, including steel, lumber and aluminum, trailer demand is being fueled by pent up replacement demand and continued improvement in economic activity," said Wabash President William Greubel. "We have seen an increase in recent trailer demand while expectations for demand in 2005 remains markedly stronger."
Wabash said this was the second time since February that it has added new workers, bringing the total number of new hires to over 400 people this year. Transport Topics
Postal Service Selects FedEx Express for International Delivery
The U.S. Postal Service said Tuesday it selected FedEx Express to provide transportation and delivery services for Global Express Guaranteed, the Postal Service's premiere international delivery service.The contract with FedEx takes effect on July 1, replacing a previous agreement with DHL Worldwide Express, the Postal Service said in a statement. Terms of the deal were not disclosed.
FedEx Express is a unit of FedEx Corp., ranked No. 2 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Report: DaimlerChrysler to Save Over $1B Through Shared Production
DaimlerChrysler AG, the world's largest truck maker, expects to save as much as $1.23 billion by 2008 through shared production and development among its commercial-vehicle brands, Bloomberg reported, citing a published article.The German magazine Focus-Money said the company's efficiency program is bringing together product planning and development at the Mercedes-Benz, Freightliner and Mitsubishi Fuso brands.
In other news, Mitsubishi Motors Corp., whose truck making affiliate announced it may conduct a fifth recall of defective vehicles, said DaimlerChrysler, its biggest shareholder, may demand compensation for the unit's quality problems, Bloomberg said. Transport Topics
Mullen Increases Dividend
Canadian transportation firm Mullen Transportation Inc. said Monday its board of directors had declared a semi-annual cash dividend of 25 cents Canadian per share, an increase of 25%.The company said in a statement this was the first time Mullen has increased the dividend. It is payable on July 14 to the shareholders of record on June 30.
Mullen is ranked No. 72 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies. Transport Topics
Milestone Equipment Acquires PAL
Milestone Equipment Corp. said it acquired a majority interest in Personal Attention Leasing Inc.Milestone Equipment is a leasing management company specializing in intermodal and highway trailer equipment. PAL is a highway trailer rental and leasing company.
"The PAL acquisition is strategically very important for Milestone's continued commitment to invest capital in the highway trailer leasing segment," Milestone President Bob Thull said.
Terms of the deal were not disclosed. Transport Topics
