Tag: Road Transport

FedEx to Acquire Watkins Motor Lines

Posted by | May 26, 2006 | |

FedEx Corporation today announced an agreement to acquire the less-than-truckload (LTL) operations of Watkins Motor Lines and certain affiliates for USD780 million, payable in cash. Heavyweight freight customers will benefit from the additional choice that this new, reliable and cost-effective solution will add to the FedEx Freight portfolio of services. Watkins Motor Lines, a privately held company headquartered in Lakeland, Fla., is a leading provider of long-haul LTL services. With over USD1 billion in annual revenue, Watkins will be rebranded FedEx National LTL and operate as a separate network within the FedEx Freight segment. The transaction is expected to close during the first quarter of fiscal 2007 and is subject to customary conditions, including government approvals. The acquisition is not expected to have a material effect on the fiscal 2007 financial results of FedEx.

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Business Post preliminary announcement of unaudited accounts

Posted by | May 23, 2006 | |

Business Post Group plc announces unaudited results for the year ended 31 March 2006 in line with the Trading Update of 31 March 2006. Revenue increased by 19% to GBP 278.2m and profit before tax and exceptional items totalled GBP 11.7m with reported pre-tax profit at GBP 5.0m. Underlying trading was in line with expectations. The Board remains confident of the Group’s long term potential and the prospects for recovery. Accordingly, the Board proposes a final dividend of 10.8p. Parcel services (Express; International; HomeServe) increased revenue by 5% to GBP 195.8m, but pre-exceptional operating profits declined by 43% to GBP 17.4m; operating profit was GBP 11.1m. UK Mail made further excellent progress, increasing revenue four-fold to GBP 40.4m representing 15% of Group total; operating profit was GBP3.2m. Specialist Services (UK Pallets; Courier) made good progress, increasing revenue by 18% to GBP 41.6m. Operating profit was GBP 2.1m.

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Palletforce aims to be no. 2

Posted by | May 18, 2006 | |

Palletforece will overtake Palletline and Pall-Ex within the next 18 months to become the second largest pallet network by volume, chief executive Mick Scarlett told MT last week.

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Palletways goes Swiss

Posted by | May 18, 2006 | |

Palletways has appointed a Swiss member as it seeks to create the first pan-european pallet network. Universal Expres, based in Munchenstein/Basel, will provide a 48/72 hour distribution services withe exclusivity in Switzerland, France zip code 68 and Germany zip code 79.

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