CLEVELAND, Ohio — The former CEO of Lordstown Motors Corp. has bought the company’s assets for $10 million, according to documents filed with the U.S. Securities and Exchange Commission.
October 3, 2023Trucking Business News
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
Former CEO Buys Lordstown Motors’ Assets for $10 Million
Cyberattack Hits Estes Express Lines’ IT Systems
Estes Express Lines on Oct. 3 confirmed that its IT systems were the target of an ongoing cyberattack, but said its trucks were still moving freight.
October 3, 2023UPS Buys MNX Global to Bolster Health Care Options
UPS Inc. will acquire MNX Global Logistics for an undisclosed sum, the parcel delivery company said Sept. 28. The deal is expected to close by the end of the year.
October 3, 2023Cummins Unit Completes Acquisition of Faurecia Plants
Cummins Emission Solutions completed the acquisition of two Faurecia commercial vehicle manufacturing plants in Indiana and the Netherlands for $208.56 million, Cummins Inc. said.
October 3, 2023Texas to Invest $240 Million in 31 Port Projects
Thirty-one port projects in Texas will begin receiving an estimated $240 million in state funds to improve those facilities and bolster the state’s supply chains.
October 3, 2023ATA Honors Lawmakers’ Fentanyl Response
WASHINGTON — The charitable arm of American Trucking Associations recognized members of Congress who are working to raise awareness of fentanyl addiction in the United States.
October 3, 2023Hendrickson Buys Brake Component Specialist Brunner
Hendrickson acquired commercial vehicle brake component specialist Brunner for an undisclosed sum Oct. 2, the Woodridge, Ill.-based company said.
October 3, 2023Mack Trucks Reaches Tentative Agreement With UAW
Mack Trucks and the United Auto Workers Union have announced they’ve come to a tentative agreement, which now avoids any potential strike among thousands of workers at the Lower Macungie, Pa., plant.
October 2, 2023Big Automakers: Future Fuel Economy Rules Unfairly Target Us
General Motors, Ford and Stellantis face a combined $10.5 billion in fines from 2027 to 2032 under stricter proposed average fuel economy rules, according to an estimate from their trade group.
October 2, 2023Diesel Price Nudges Up 0.7¢ a Gallon to $4.593
The national average diesel price nudged up seven-tenths of a cent to reach $4.593 a gallon, according to Energy Information Administration data released Oct. 2.
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