Author: Transport Topics

FedEx Express is acquiring the international express delivery business of Flying Cargo Group, a company based in Israel that has been a service partner with FedEx since 1990, company officials announced Jan. 15.

Mitsubishi UFJ Financial Group Union Bank, a subsidiary of MUFG Americas Holdings, will acquire Trade Payable Services, a supply chain finance platform, from GE Capital, per a Jan. 16 press release. Terms were not disclosed.

A gangbusters year marked by soaring freight rates and frenzied order and sales activity for equipment ended on a soft note, as December saw reported declines in both truck tonnage and trailer orders. It had to happen eventually, but some may feel cheated that the industry didn’t get to close out this otherwise stellar year on a high note.

Ryder System Inc. announced it has expanded its digital truck-sharing platform, Coop by Ryder, to South Florida.

Virgo Investment Group has made a “significant” investment in 80 Acres Farms, a Cincinnati-based indoor farming company, according to a Jan. 15 press release. Financial terms were not disclosed.

Wabash National Corp., a producer of semi-trailers, truck bodies and liquid transportation systems, announced the immediate sale of its aviation and truck-equipment business to Garsite Progress.

Sunoco has acquired the wholesale fuel-distribution business from Schmitt Sales as well as certain convenience store locations from Speedway to turn into wholesale distribution sites.

Cummins Inc. announced its X12 engine, which weighs only 2,050 pounds, is available in Western Star 4700 straight trucks and tractors.

Eclipse IA, a productivity-based staffing solutions provider for the supply chain industry, has announced a merger with On Time Staffing, along with its People Logistics division.

Legion Logistics, a disabled veteran-owned 3PL, has announced its first acquisition, according to a Jan. 14 press release. The company will grow more than 10% with the acquisition of Qontinuity Enterprises, a 3PL based in Tennessee.