People in the News
Following are personnel changes and announcements in the trucking industry:
Onspot of North America announces Justin Rogers has accepted the position of regional manager covering Eastern Canada.
Daniel C. Ustian has retired as chairman, president, and CEO of Navistar. Navistar’s board of directors has appointed Lewis B. Campbell executive chairman of the board of directors and interim CEO, and promoted Troy A. Clarke to the position of president and COO.
Minimizer has promoted Trevor Kruckeberg to special projects manager.
Midwest Wheel Companies has named Mark Barlage recipient of its 19th annual Don Shoemaker/Scott Wilson Sales Professional of the Year Award.
Fontaine Heavy-Haul has hired Jeff Conner as director of sales.
HDA Truck Pride has added Nikki Paschall to its sales and marketing team.
Baldwin Filters has promoted Rich Palmer to vice president, Worldwide OE Sales and Gary Grabau to vice president, Strategic OE Initiatives.
Horton, Inc. has hired John Getter as vice president of manufacturing.
Donald E. Engstrom, co-founder of Mutual Wheel, died on Sept. 14, 2012. He was 93.
The following is news about truck dealerships:
Peterbilt Motors Co. announces the construction of a 54,000-sq.-ft. Montana Peterbilt dealership in Lockwood.
Wisconsin Kenworth has opened a parts and service dealership in Escanaba, Mich., located on 2.5 acres, two blocks west of North Lincoln Road and providing easier access to the combined U.S. Highways 2 and 41.
Volvo dealer TEC Equipment has added a location in southern Los Angeles and two near Fontana, Calif. Volvo also says a dealership has been opened in Battle Mountain, Nev.
CIT Group Inc. has opened a new location in Troy, Ill., 19 miles east of St. Louis. The new business will operate as CIT Kenworth of Southern Illinois.
M & K Quality Truck Sales has completed the acquisition of four Chicago-area businesses: Chicago Mack Sales & Service (Summit), Mack of Joliet (Channahon), Chicago Truck Sales & Service (Alsip) and Truck Lease Chicago (Summit). This marks the first time M & K will have a physical presence in the Chicago market.
Gabrielli Kenworth has opened a dealership in Dayton, N.J., its first location in the state. The dealership joins Gabrielli Kenworth’s four other New York City-area Kenworth dealership locations in the Bronx, Hicksville, Medford and Queens, N.Y.
The following is economic news from the trucking industry:
The Equipment Leasing & Finance Foundation’s September 2012 Monthly Confidence Index for the Equipment Finance Industry says confidence in the equipment finance market is 53.0, up from the August index of 50.2. The Foundation says this reflects increased optimism despite concerns over companies’ willingness to expand their businesses in the face of economic and political uncertainty.
The American Trucking Associations announces its advanced seasonally adjusted For-Hire Truck Tonnage Index contracted 0.9 percent in August to 118.3 after increasing 0.4 percent in July. ATA said the sequential drop in August, while not erasing the cumulative 1.5 percent gain in June and July, was significant.
Economic activity in the manufacturing sector expanded in September following three months of slight contraction, and the overall economy grew for the 40th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business.
FTR Associates has released preliminary data showing September Class 8 truck net orders at 15,205, down slightly from August. September orders were 35 percent below the same month last year, contributing to the weakest quarter since third quarter of 2012, according to FTR.
FleetPride Acquired By TPG
FleetPride Inc. has signed a definitive agreement to be acquired by global private investment firm TPG.
The transaction is expected to close in the fourth quarter of 2012 and is subject to customary conditions, including receipt of applicable regulatory approvals. Terms were not disclosed.
“We are extremely excited to enter the next phase of our growth strategy with TPG, and I am very proud of the teamwork and effort our FleetPride employees across the country have demonstrated in the execution of this strategy,” says W.M. McGee, chairman and CEO of FleetPride.
“We welcome our new partner who shares our commitment to superior customer service and continued growth in the markets that are essential for the country’s economic stability. TPG’s vision for expansion through acquisition and greenfield opportunities will enable FleetPride to better serve our existing customers as we aggressively grow our national footprint.”
TPG has expertise in industrial distribution and the vehicle aftermarket sector. Its portfolio companies include American Tire Distributors, a tire wholesaler with 104 distribution centers in 45 states, and Nexeo Solutions (formerly Ashland Distribution), a global chemicals and plastics distribution company.
Republic Diesel Expands In Lexington
Republic Diesel has purchased the assets and equipment of Truck Supplies, Inc. in Lexington, Ky., and plans to merge the assets into its Lexington location. Republic Diesel says Truck Supplies’ sales and warehouse employees will be retained in the acquisition.
“[This] purchase brings with it the opportunity to service a wider customer base,” says Tony Holt, Republic’s branch manager in Lexington.