Business

Mount Airy, N.C. — Two North Carolina trucking companies have joined forces. At their corporate offices in Mount Airy on March 13, officials with Cooke Trucking Company announced their purchase of BCJ Trucking Company, which is also located in Mount Airy. “The acquisition will enhance Cooke’s competitive position in the marketplace,” Cooke Trucking Company President Jay Boaz said. According to a news release, “Cooke has worked well with BCJ throughout the years and most recently has partnered on several lanes and movements. When considering the different lanes and established customer base, the acquisition further diversifies their trucking portfolio.” The news release also noted that “Cooke and BCJ will share best practices, synergies and will grow a broader footprint.” Boaz added: “Our goal is to remain customer and employee focused while continuing to deliver best in class results and service.” In business since 1984, BCJ is known as a family owned and operated trucking company, specializing in both regional transportation and coast to coast movements.

OKEMOS, Mich. — Rail transportation logistics company RSI Logistics Inc. has been acquired by Trinity Industries Inc. for $70 million. According to a news release, “the acquisition highlights numerous synergies between RSI Logistics and Trinity Industries that make the acquisition a strategic move for both companies. The combination of RSI’s industry leading rail technology, logistics services and bulk terminal network, with Trinity’s railcar manufacturing and leasing, technology, and maintenance service combine for a powerful solution for shippers. RSI and Trinity anticipate the creation of new opportunities for growth, innovation, and improved services to our customers.” Trinity Industries Inc. is an American industrial corporation that owns a variety of businesses which provide products and services to the industrial, energy, transportation and construction sectors. Bob Tuchek, RSI’s president, called Trinity “a leading provider of rail-centric technology and services.” “This acquisition is a testament to the tremendous amount of synergies that exist between our companies, and it is a great opportunity for us to work together to create industry-best services and solutions for our customers,” he added. “I want to reassure our clients that Trinity is committed to maintaining RSI’s successful brand and reputation. As part of the Trinity family, we look forward to continuing to provide the same high-quality services and support that our customers have come to expect from us. This is an exciting new chapter for RSI, and we can’t wait to see what the future holds.” Trinity’s president and CEO Jean Savage said the acquisition is a step forward in his company’s expansion goals. “Specifically, RSI expands the breadth and quality of Trinity’s platform, adding logistics services, terminal operations and intermodal transportation,” Savage said. “Also, coupling RSI’s expertise and reputation with the transformational technology of Trinsight™ will deliver a unique tool to rail shippers to gain more control of their supply chains.”

GREENWICH, Conn. — Less-than-truckload (LTL) carrier XPO has named J. Wes Frye to its board of directors, effective immediately. Frye’s appointment expands the composition of the board to nine members, of which seven are independent directors, an XPO news release noted. “I’m looking forward to working closely with the XPO team on their mission to create world-class operational excellence,” Frye said. Frye served as a 30-year executive with Old Dominion Freight Line, Inc., including 18 years as chief financial officer, until his retirement in 2015. “He was instrumental in creating ODFL’s customer-centric culture and executed numerous initiatives that led to approximately $3 billion of revenue growth,” according to the news release. “Additionally, he built ODFL’s finance organization, established the company’s incentive compensation structure and introduced software applications for business intelligence, forecasting, pricing and KPI management.” Frye was ranked Best CFO in Transportation in Institutional Investor’s 2011 All-America Executive Team awards. He holds a master’s degree in business finance from the University of North Carolina at Charlotte and a bachelor’s degree in business administration from Appalachian State University. Brad Jacobs, executive chairman of XPO, said that Frye’s name “is synonymous with LTL operational excellence. He brings a rare mix of industry expertise and financial acumen that will be a powerful asset to both our board and our company.”

FORT LAUDERDALE – Fleet Advantage has been named one of Monitor’s 2023 Most Innovative Companies in Equipment Finance for the third consecutive year. Monitor’s 2023 Most Innovative Companies in Equipment Finance award recognizes innovative companies in the equipment finance ecosystem within various industries including transportation and logistics, according to a news release. “Throughout 2022, Fleet Advantage continued to work closely with organizations to review their procurement strategy and key financial metrics,” the news release stated. “The company offers various financial analyses to assist clients determine how to finance their equipment to enable shorter trade cycles, and reviews different lease structure types such as an unbundled lease versus a full-service lease.” Monitor officials said that Fleet Advantage “aimed to assist Fortune 100 companies with transportation fleets and equipment finance leaders change the way they see the environment, as well as their impact. The company helped organizations reach environmental, social and governance goals while promoting sustainability through shortening asset life cycles and optimizing vehicle specifications to be more fuel-efficient.” Fleet Advantage unveiled a new program in 2022 to help companies certify the greenhouse gas emissions output of their fleets. Such certifications would be mandated under a proposed rule issued by the Securities and Exchange Commission. “We are thrilled to be recognized again by Monitor as one of the most innovative companies in the equipment finance industry,” Matt de Aguiar, chief operating officer for Fleet Advantage, said. “Fleet Advantage’s leadership and entire workforce population believes that innovation, when leveraged effectively, can create a culture where breakthrough ideas are generated continuously.”  

ALBANY, N.Y. – Bestpass Inc. has announced a partnership with Comdata Inc. that officials from both companies said is designed to assist fleets and owner-operators in saving money when ordering permits for travel across North America. Comdata offers more than 500 types of permits for fleets in need of alcohol, oversize/overweight, superloads, manuals, IRP and trip and fuel, according to a news release. “We are excited to partner with Comdata to expand our offering to fleets and owner-operators,” Jason Walker, CRO at Bestpass, said. “Comdata will be a great partner for us as we diversify our offering and continue our focus on becoming a one-stop shop for customers, streamlining their administrative needs and helping them stay focused on the road ahead. Comdata issued over 250,000 permits in 2022, and we look forward to leveraging the company’s expertise as we coordinate our efforts to simplify processes for fleet owners and operators traveling over state lines. We look forward to continuing to build our partnership.” Ed Sanderson, general manager of permit operations at Comdata, said that the two companies’ combined expertise places fleets and owner-operators “in the best position when traveling across North America. Bestpass’ reputation for best service and coverage in the industry enhances the value of our permitting programs.” To learn more, contact support@bestpass.com or visit https://bestpass.com/solutions/trucking-fleets.

DALLAS — Susan Morbit has been selected to spearhead Sterling Transportation’s northeast and midwest sales outreach program. According to a news release, Morbit has 10 years of experience with less-than-load carriers. “In that time, she has developed many long-standing industry relationships,” the news release stated. “Morbit is well known throughout the freight forwarding community and her endearing personality has earned her the nickname ‘Suzy Sunshine’ among her peers.” Scott Klever, executive vice president of sales at Sterling Transportation, said he is looking forward to working with Morbit. “She is enthusiastic, knowledgeable and extremely dedicated,” Klever said. “She is one of the few people that beats me to work in the mornings. Susan is a team player who will be a great fit for the Sterling team. She always has a smile on her face and in her voice.”

LOWELL, Ark. — J.B. Hunt Transport Services Inc. recently garnered awards from two national publications. On March 8, the company was named by Newsweek as one of America’s Greatest Workplaces for Women and Greatest Workplaces for Diversity and by Forbes as one of America’s Best Large Employers. “It all begins with taking care of our people,” Shelley Simpson, president of J.B. Hunt, said. “Our workplace culture empowers our people to bring their best selves to work each and every day, and these recognitions reflect the progress we’ve made in creating an environment that welcomes inclusion, celebrates diversity and encourages innovation, leading to exceptional customer value.” J.B. Hunt officials wrote in a statement that the company has “implemented multiple programs and initiatives to advance its workplace environment and retain top talent while attracting fresh perspectives. Following the opening of its Inclusion Office the year prior, J.B. Hunt created The Inclusion Council in 2022. The Council’s stated goal is to ensure that inclusion remains a key component of creating an employee experience and drives how the company conducts business.” J.B. Hunt also offers opportunities for employee professional development, community engagement and networking. The company said its employee resource groups work to meet the needs of female, Latino, veteran, African American, LGBTQIA+ employees and Asian American and Pacific Islanders. “Creating opportunities for our employees to connect, learn and grow together is one of the many reasons why our employee resource groups are so imperative to fostering inclusion in the workplace,” Brad Hicks, president of highway services and executive vice president of people at J.B. Hunt, said. “The best ideas come from those who feel that their voice is heard, valued and respected, and we’re proud to enrich the lives of our employees by promoting a sense of belonging when they come to work each day.”  

SACRAMENTO — California is asking for public feedback on its Draft Requirements and Criteria for the $33 million Planning and Capacity Building, Clean Mobility in Schools (CMIS) and Sustainable Transportation Equity Project (STEP). The California Air Resources Board (CARB) has released a document for public comment that outlines the upcoming solicitation’s draft requirements and criteria, according to a news release. Comments must be submitted by March 31, 2023, to step@arb.ca.gov or via a Google Forms survey. CARB is also hosting the last in a series of three public work group meetings to develop this solicitation via Zoom on March 9. This meeting will include an opportunity to share comments on the draft requirements and criteria. A total of $55 million has been allocated for CARB’s clean mobility investments and was approved by the board on Nov. 17, 2022, the news release noted. “The Low Carbon Transportation program is part of California Climate Investments, a statewide initiative that puts billions of Cap-and-Trade dollars to work reducing greenhouse gas emissions, strengthening the economy, and improving public health and the environment — particularly in disadvantaged communities,” the news release stated. “CARB’s clean mobility investments work to address specific community-identified transportation and mobility needs. Overall, the goals of the programs are similar in that they attempt to increase residents’ access to clean transportation options without the need for personal vehicles. However, the programs take different yet complementary approaches to addressing this goal and meeting the needs of different types of communities.” CARB has piloted $123 million of clean mobility investments, using different funding approaches and funding different types of projects to meet the needs of priority populations across the state. “The pilots proved that there is an immense need for and interest in continuing investments for clean mobility projects, including more comprehensive and localized technical assistance and capacity building,” the news release stated. The (fiscal year) 2022-23 Funding Plan marks a deliberate shift from independent pilot programs toward more aligned transportation solutions. As CARB continues implementing clean mobility investments, we continue to seek ways to align program requirements, streamline and simplify the application process, and transition from the pilot phase to the community-based program phase. Your feedback during this public comment period will help CARB pursue these goals for Planning and Capacity Building, CMIS and STEP.”

DAYTON, Ohio — Bob Montgomery has been named vice president of sales and marketing at Walther EMC, a worldwide wheel-end solutions company for the commercial vehicle industry. According to a news release, Montgomery will lead all commercial activities for the company, including sales, customer service, strategic marketing and marketing communications. “Bob is a proven leader in the industry, and we are pleased to have him join our dynamic and energetic team,” said Chris Walther, president of Walther EMC. “I look forward to his leadership as we solidify our strategy for the future.” Montgomery has more than 25 years of experience in the commercial vehicle industry with a diverse background in product management, strategic marketing, sales and general management at industry-leading companies, such as GE, STEMCO and Tramec Sloan, the news release noted. “With over a century of history since George Walther patented the steel truck wheel, Walther has enjoyed a strong reputation in the industry,” Montgomery said. “I am excited to help the company grow and continue the family’s legacy of providing the transportation industry with quality components that promote safety and efficiency.” Montgomery will follow in the footsteps of Bob Hollern, who joined the industry in 1968 with Motor Wheel before taking a leave of absence to serve a full tour in Vietnam as a U.S. Marine. He returned from the war and rejoined Motor Wheel, advancing through the manufacturing organization and ultimately into sales. “After 30 years, he retired from Motor Wheel and joined Walther in 1998, where he helped make Walther EMC the company it is today,” the news release stated. “Hollern is well known and loved for his expertise, customer service, and especially his strong relationships in the Class 8 trailer manufacturing community.”

Greensboro, N.C. – Mack Trucks has signed a three-year partnership with Skip Barber Racing School to be its official hauler. According to a news release, Mack will provide three Mack Anthem models to Skip Barber Racing to support all divisions of the Skip Barber business, including the Race School, Race Series and Race Team. The Mack Anthem models will haul SBRS trailers containing up to eight vehicles, as well as racing support trailers that have a combination of office space, workspace, parts storage and additional space for cars. “We are proud to support Skip Barber Racing, they are long standing leaders in high performance racing and driving education and the Mack Anthem will meet their long-haul needs.” David Galbraith, vice president of global brand and marketing for Mack Trucks, said. “Our focus is building efficient, reliable high-performance trucks, in perfect alignment with the SBRS brand.” All three Mack Anthem models are Viper Red 70-inch stand-up sleeper models. “We look forward to seeing the Mack Anthems with the SBRS trailers on the road,” Galbraith said. “We are confident the SBRS team will appreciate the durability, comfort and innovation built into the Anthems.” The first Mack Anthem was delivered to SBRS and can be seen hauling custom-wrapped SBRS trailers between tracks for the various racing events. The remaining two trucks will we delivered to SBRS in the second quarter of 2023.

CLEVELAND — In response to increased demand in Philadelphia, ContainerPort Group (CPG) has announced it is expanding its footprint in the market with additional freight capacity and increased driver support. “As the cargo continues to flow through the east coast, our customers are turning to us for additional trucking capacity throughout the Northeast, and particularly in Philadelphia,” Joey Palmer, CPG president, said. “We already have a presence across other ports including New York/New Jersey, Norfolk, Virginia, Baltimore and more, so broadening our footprint to include Philadelphia was a next logical step for our business and for our customers.” To help support operations, the company has already added several veteran owner operators carrying a variety of endorsements, as well as a fleet of private chassis, according to a news release. Customers can take advantage of Philadelphia’s centralized location to reach nearly 41 million people within a 150-mile radius of the port. CPG’s growth in Philadelphia demonstrates the company’s commitment to providing nationwide coverage at every port and every rail. Earlier this month, CPG announced it had opened a new terminal in Jacksonville, Florida, to accommodate growing demand in the Southeast region. Additionally, the company recently began offering Dedicated Services across several locations, providing guaranteed capacity to customers needing white-glove service. “Much of our strategy for growth is driven by customer demand,” Palmer said. “This is not only reflected in our decision to expand our footprint in Philly and Jacksonville, but it can also be seen in our evolving portfolio of services and solutions. Our goal is to be everywhere our customers need us to be, and to provide the solutions both our drivers and our customers need.”  

LINCOLN, Neb. — Used tractor inventory levels in Sandhills Global marketplaces rose again in February, continuing a long-term inventory rebound that began in Q2 2022 as various pandemic-related farm equipment production and supply chain constraints began to ease. Inventory levels increased across all used tractor categories, from under-100-HP compact and utility tractors to 300-and-greater-HP tractors, when comparing February 2022 to February 2023, according to a news release. “We typically see tractor inventory levels increase in January and February, but the year-over-year gains in recent months indicate that current inventory trends are outpacing seasonal effects,” Sales Manager Mitch Helman said. “Inventory of compact and utility tractors have increased faster than higher-horsepower farm tractors, so farm equipment sellers should monitor changing trends as buyers come in this spring.” U.S. used heavy-duty trucks The Sandhills (Equipment Value Index shows used heavy-duty truck inventory is trending up. In February, inventory levels increased 4.76% month-over-month and 38.05% year-over-year. Heavy-duty truck values softened overall in February. Asking values declined for the 10th consecutive month, dropping 3.23% month-over-month, and were down 10.42% year-over-year. The downward auction value trends that began in April 2022 continued in February 2023. Used heavy-duty truck auction values decreased 3.22% month-over-month and 22.65% year-over-year. U.S. used semi-trailers Inventory for used semitrailers spiked 7.08% from January to February, following a 9.53% gain from December to January. Used semitrailer inventory increased 58.17% year-over-year. Inventory increases, and resulting lower asking and auction values, were driven by dry van and reefer semitrailers. Semitrailer asking values decreased again in February, dropping 0.43% month-over-month and 12.73% year-over-year. Used semitrailer auction values are currently trending sideways and decreased 0.42% month-over-month in February. Compared to last February, auction values were down 25.1%.    

COLUMBUS, Ind. — Preliminary net orders for North American Class 8 tractors rose 13% year-over-year in February to 23,600 units (plus-27% month-over-month), while North American Classes 5-7 net orders totaled 17,500 units, according to the latest report from ACT Research. Complete industry data for February, including final order numbers, will be published by ACT Research in mid-March. “We do not forecast orders, but given how robust Class 8 orders were into year end, coupled with cautious readings from the ACT Class 8 Dashboard, we noted at Seminar 68 that we expect SA (seasonally-adjusted orders in a range of 15-20k in the near term,” shared Eric Crawford, ACT’s vice president and senior analyst. “Thus, February’s SA (of) 22,400 represents a modest upside to our expectation. Combined with January, SA orders have averaged 19,700 units year-to-date.”