AmeriQuest, a New Jersey-based provider of transportation and logistics services, and Transervice, a nationwide provider of contract carriage, dedicated contract maintenance, and full-service leases, have joined forces.
Transervice operates more than 10,000 trucks, tractors, and trailers from 82 locations, bringing the total number of transport units available in the AmeriQuest network to more than 170,000. Furthermore, the combination of AmeriQuest and Transervice will enhance aggregated volume purchasing and team efforts toward long-term sales initiatives, the companies said.
AmeriQuest is a privately held company that operates from 450 locations and represents the direct purchasing power of more than 81,000 trucks and 100 aggregated fleets. AmeriQuest primarily focuses on arranging preferred pricing and fulfillment with leading suppliers. The company is also exclusive provider of procurement and transportation-related services for its strategic partners Amtralease (American Truck Leasing Network Inc), FleetXchange.com, and Food Distributors International.
l XTRA Corp Foresees Business Slowdown Despite posting net income of $18 million for its first quarter ended Dec 31, 2000, XTRA Corp, the parent company of XTRA Lease, sees a slowdown in the trailer leasing business ahead.
"We expect a challenging year, but we have seen a somewhat more rapid economic slowdown than anticipated," said Lewis Rubin, XTRA Corp president and chief executive officer. "While XTRA's first-quarter performance was modestly better than the expectation we noted at that time, we have experienced significant returns in January and anticipate fiscal 2001 performance will not equal the prior fiscal year."
He said XTRA has successfully maintained healthy utilization levels in prior economic slowdowns because of its "strong market positions." However, its North American utilization rates for the first quarter of fiscal 2001 have dropped slightly, averaging 88% versus 91% a year ago.
l Ryder System Inc Sells Brazilian Hauler Ryder System Inc has announced that Axis Sinimbu Logistica Automotiva Ltda, a Brazilian subsidiary of Allied Holdings, has purchased auto-hauler Translor Veiculos Ltda from one of Ryder's Brazilian subsidiaries, Ryder Latin America.
"Exiting the auto hauling arena allows Ryder to focus and strengthen its logistics and supply chain solutions business in Brazil and align it with our global strategies," said Gregory T Swienton, Ryder's president and chief executive officer.
Terms of the deal were not disclosed.
l Interpool Inc Sells Trailers to TIP Interpool Inc is selling some 50,000 intermodal trailers to Transport International Pool (TIP) for $345 million.
Based in Devon PA and owned by GE Capital Services, TIP will use the trailers to help grow its intermodal business. Interpool plans to use the proceeds from the deal to pay down debt and free up capital for new investments.
l Paccar Leasing Opens British Columbia Site Paccar Leasing Co, a franchisor of independently owned and operated heavy- and medium-duty truck rental and leasing companies, has added a new PacLease franchise location in Surrey, British Columbia, Canada.
Featuring 10 service bays, Peterbilt Trucks Pacific Inc is open Monday through Friday from 7 am to midnight and Saturday from 7 am to 5 pm. The address is 19470 96th Ave, Surrey, BC V4N 4C2; the phone number is 604-888-1411.
l Intermodal Traffic Booming at US Ports Despite predictions of an economic slowdown in the United States this year, cargo traffic at US ports is booming, said Larry Keller, executive director of the Port of Los Angeles. That news may give truckers that handle port traffic a shot in the arm.
In 2000, goods valued at more than $235 billion passed through the local ports on their way to stores and manufacturing plants throughout the nation, Keller said.
"If the ports are any indication, even the term `slowdown' might be considered extreme," he said at the port's recent annual business outlook meeting. "In the last year, the Port of Los Angeles and its customers recorded an unprecedented 27% increase in containerized cargo."
Keller noted that China accounted for 55% of the overall Asian trade with the United States and is the primary importer of American goods. Trade between Mexico and Southern California's five-county area has increased 152% in the past seven years.
As a result of these increases, Los Angeles handled 4.9 million containers in 2000, making it the busiest container port in the nation, he said.