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Trucker News News for Truckers - and Interstate Traveler Resources -
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TRUCKERS NEWS!
Navistar Launches Cash Tender Offers and Consent Solicitations for Certain Outstanding Debt; Company Also Provides Update on Accounting Review
WARRENVILLE, Ill.--(BUSINESS WIRE)--Feb. 21, 2006--Navistar International Corporation (NYSE:NAV) announced today that it has launched a cash tender offer and consent solicitation for three series of its outstanding senior note debt securities.
Navistar International Corporation (NYSE:NAV) is the parent company of International Truck and Engine Corporation. The company produces International(R) brand commercial trucks, mid-range diesel engines and IC brand school buses, Workhorse brand chassis for motor homes and step vans, and is a private label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. Navistar is also a provider of truck and diesel engine parts and service sold under the International(R) brand. A wholly owned subsidiary offers financing services. Additional information is available at: www.nav-international.com.
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GTCR Announces Partnership to Form Golden Gate Logistics, LLC
CHICAGO
(BUSINESS WIRE)--Feb. 15, 2006--GTCR Golder Rauner, LLC (GTCR), one of the nation's leading private equity firms, today announced it has entered into a partnership with John Williford, John Rocheleau and Ed Feitzinger to form Golden Gate Logistics, LLC (Golden Gate).
The new company, headquartered in Palo Alto, California, will focus on acquiring and consolidating logistics providers in the U.S. and internationally. GTCR plans to invest up to $200 million of equity capital to support management's strategy of building a leading global logistics company. Williford will act as CEO of Golden Gate, Rocheleau will serve as CFO, and Ed Feitzinger will serve as senior vice president.
"The formation of Golden Gate Logistics is consistent with GTCR's long-standing investment strategy of identifying highly attractive industries and partnering with exceptional management teams," commented GTCR principal David Donnini.
"The logistics business is still evolving and full of opportunities. I'm excited to be able to shape the industry by building a major new player," said Williford. "I'm also delighted to be partnering with GTCR, a firm with a long history of backing experienced managers and giving them the time and resources needed to build an industry leading company."
Williford has 25 years of experience in all aspects of the transportation and logistics industry. He most recently served as CEO of Menlo Worldwide, the logistics subsidiary of CNF, Inc. Williford was responsible for launching Menlo in 1991 and building it into a leading logistics provider globally.
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TRUCKERS NEWS!
OPIS New Index Links Rack and Spot Prices
ROCKVILLE, Md.--(BUSINESS WIRE)--Feb. 21, 2006-- Oil Price Information Service (OPIS), the nation's leading provider of spot and rack gasoline prices, unveiled the biggest innovation in rack pricing since OPIS added retail averages into their rack display three years ago.
This new enhancement - called the OPIS "Spot Replacement Index" or "SRI" - links local rack markets to bulk spot markets by capturing the "OPIS Spot Mean" daily by product. It then factors in the appropriate delivery costs (truck or pipeline tariffs, cost of money, terminal fees, product shrinkage, etc.) to get that spot product delivered to a particular rack.
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Able Energy, Inc. Optimizes Its Supply Chain for Renewable Fuel Products
ROCKAWAY, N.J.--(BUSINESS WIRE)--Feb. 21, 2006--Able Energy, Inc. ("Able") announced today that it has agreed to sign an agreement with TransMontaigne Inc., a leading supply chain management and fuel logistics company. The agreement allows Able Energy to optimize its fuel supply chain, accelerating distribution of biodiesel, a clean-burning, soy-based alternative fuel product.
As a result of the alliance with TransMontaigne, Inc., Able Energy, Inc. is taking a giant step forward in advancing the company's commitment to conservation, energy efficiency, and environmental health. With access to the TransMontaigne fuel supply chain platform, Able Energy Inc. will be able to provide its customers with fast, efficient and reliable access to biodiesel fuel.
Biodiesel is a clean-burning, environmentally friendly fuel alternative produced from domestic renewable resources. Biodiesel can be used efficiently in diesel engines and in home heating oil applications. Derived from natural oils like soybean oil, biodiesel meets the rigid specifications set forth by ASTM (American Society of Testing Materials). While biodiesel contains no petroleum, it can be used in its pure form or blended at any level with petroleum diesel to create a cleaner burning biodiesel blend. Studies show that the use of biodiesel in conventional diesel engines and home heating applications can substantially benefit the environment and human health. Biodiesel has been shown to emit lower levels of carbon monoxide, unburned hydrocarbons, and particulate matter compared to conventional diesel fuel. In addition, exhaust emissions such as sulfur oxides, sulfates (major components of acid rain), and aromatics are essentially eliminated in biodiesel.
Able Energy will offer a biodiesel blend for use in home heating applications supplied by TransMontaigne Inc. In addition, Able Energy's acquisition candidate, All American Plazas, Inc. has commenced use of a new biodiesel fuel blend also supplied by TransMontaigne Inc. at its All American Plaza truck stops in Doswell, Virginia, along with Bethel and Harrisburg, Pennsylvania.
Headquartered in Rockaway, New Jersey, Able Energy is a holding company for five operating subsidiaries engaged in the retail distribution and provision of services related to home heating oil, diesel fuel, and kerosene.
TransMontaigne Inc. (ASE:TMG), headquartered in Denver Colorado, provides logistically integrated transportation, terminal, supply, distribution, gathering, processing and marketing services through its wholly owned subsidiaries. TransMontaigne's core competency is collaborative Fuel Supply Chain Management for refined petroleum products.
Emergency traffic and road conditions for truckers is a new feature that will soon be expanded to cover all states .
Check back for news updates.
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February 17, 2006 04:10 AM US Central Time
Nation's Largest Truckload Carrier Delivering 100 New Jobs to Eastern Georgia
Informational Job Fair to Highlight Variety of Professional Truck Driving Positions
GREEN BAY, Wis. & SAVANNAH, Ga.--(BUSINESS WIRE)--Feb. 17, 2006--Schneider National Inc., the nation's largest truckload provider, today announced it will hire 100 new professional truck drivers in the greater Savannah, Ga., area. The company's growth in the region is fueled by new business, Schneider's recent acquisition of Savannah-based American Port Services and expanding relationships with clients in the area, including a leading consumer packaged goods company.
Schneider National plans to hire drivers for regional and over-the-road positions and will hold an informational job fair next week to inform job seekers in the Savannah area of available driving opportunities. The event will be held on Feb. 20, 2006 at the Double Tree-Historic Savannah hotel.
When: Monday, Feb. 20, 2006 (7 a.m. to 7 p.m.)
Where: Double Tree-Historic Savannah hotel
411 West Bay Street in Savannah
For more information, call 1-800-44-PRIDE (1-800-447-7433).
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If you have information or suggestions of trucking or Interstate Highway content and resources that you would like to see on our website, just click here and let us know.
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TruckerNews.com is a website for information on trucks, truck stops, travel centers, truckstops, internet truck stops, news, resources and information for truckers, travellers, drivers, teams, fuel stops, fuel, truck repair, truck parts, trucks for sale, buy, sell, trade, lease, owner operators, big rigs, 18 wheelers, rest areas, food, restaurants, rest areas, parking, hotels, motels, lodging, truck plazas, links to trucker and DOT and Governament web sites, classifieds, employment, jobs, education, entertainment, highway and road conditions.
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Utility Trailer Manufacturing Co. Announces Florida Dealer Expansion into New Market
CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)-- Feb. 20, 2006 --Utility Trailer Manufacturing Company, a leading manufacturer of dry freight vans, flatbeds, refrigerated vans, and Tautliner(R) curtainsided trailers, announced that its independent dealer located near Miami in Hialeah, Florida, Utility Trailer Sales and Leasing, is expanding its parts operations to include a new sales warehouse in Riviera Beach, Florida. (www.utfla.com)
Utility Trailer Sales and Leasing, an independent Utility Trailer dealership has opened a New Parts Sales Warehouse facility in Riviera Beach, Florida. Customers also have the convenience of acquiring parts from Utility Trailer Sales & Leasing online at www.utfla.com.
Utility's Miami location provides customers with new and used trailers, truck and trailer parts, and service facilities. The new West Palm Beach area location can be reached at 561-863-7363 or for the Miami location at 305-888-0020.
Utility Trailer Manufacturing Company is America's oldest privately owned, family-operated trailer manufacturer. Producing trailers since 1914, the company designs and manufactures dry freight vans, flatbeds, refrigerated vans, and Tautliner(R) curtainsided trailers. Utility is the largest producer of refrigerated vans and the third largest trailer manufacturer overall in the USA.
For more information, contact Utility Trailer Manufacturing Company at (626) 965-1541 or visit the company web site at www.utilitytrailer.com.
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