28 Jun Cummins in Agreement to Acquire Hydrogenics Cummins Inc. has entered into an agreement to acquire fuel cell systems provider Hydrogenics Corp. for about $290 million, or $15 per share, the independent engine maker said. Read more...
28 Jun Roadrunner CFO Terence Rogers to Step Down in August Terence Rogers, Roadrunner Transportation Systems Inc.’s executive vice president and chief financial officer, has resigned from the company effective at the end of August. Read more...
28 Jun Volvo Group to Spend $400 Million on Plant Upgrades, Expansion The Volvo Group on June 28 announced plans to invest nearly $400 million over six years to upgrade its New River Valley, Va., plant that produces all Volvo trucks sold in North America. Read more...
28 Jun Midwest Deluge Spurs Cut in US Estimate for Soybean Acreage The spring deluge in the Midwest and Great Plains spurred a cut in the U.S. forecast for soybean acreage, a bigger reduction than analysts expected. Read more...
28 Jun Trump, Xi to Meet at Trade-War Crossroads Fraught With Risks President Donald Trump and China’s Xi Jinping are set to meet June 29 amid hopes they will hit the pause button in their trade war and resume the search for a longer-term peace. Read more...
28 Jun Secretary Elaine Chao Touts Positive Train Control Installment at Summit The U.S. Department of Transportation has recorded progress with the implementation of positive train control technology, the country’s top transportation official indicated recently. Read more...
28 Jun Experts: State Funding a Local Issue, Too Any statewide measure meant to generate revenue for transportation projects should include the needs of localities, according to Darren Kettle, executive director of the Ventura County Transportation Commission. Read more...
27 Jun VW’s Traton IPO to Raise $1.8 Billion, Pricing at Low End Volkswagen AG raised 1.55 billion euros ($1.8 billion) selling a stake in its truck business, but only after pricing the offer at the low end of a target range to attract investors to one of Europe’s biggest initial public offerings this year. Read more...
27 Jun Used Class 8 Prices Up 6% in a Year as Inventories Increase The average used Class 8 truck brought a higher sales price in May than in the same month a year earlier, but with inventories gradually building and growth in the freight market slowing down after last year’s boom, analysts are divided on the long-term outlook for values. Read more...
27 Jun Trailer Orders in May Fall to Lowest Point in Nearly Three Years U.S. trailer orders plunged below 11,000 in May to the lowest point in nearly three years, tracking the orders for Class 8 vehicles that plummeted earlier in the month. Read more...