Caterpillar’s McReynolds to be Opening Speaker at Heavy Duty Dialogue
J.S. (Jim) McReynolds, general manager, on-highway engines, Caterpillar Power Systems North America, will launch Dialogue ’06 with a presentation on the challenges faced in the highly cyclical HD commercial vehicle business. HD Dialogue ’06 is slated for Monday, Jan. 23, 2006, at The Mirage in Las Vegas.
Cummins Reports Most Profitable Quarter Ever
Cummins Inc. recently saw its most profitable quarter ever, reporting third quarter net income of $145 million, or $2.90 per diluted share, on sales of $2.47 billion. Sales were strong across the entire business and the company said its gross margins rose to its highest levels in more than eight years.
New Full-Service Fleet Maintenance Facility Opens in PA
Fleet First, a new full-service fleet maintenance facility, has opened in Conshohocken, PA. The 8,000-square-foot facility services company-owned fleet vehicles including medium- and heavy-duty trucks. Conshohocken, which is outside Philadelphia, is central to all major highways in Pennsylvania, allowing Fleet First to service customers from Pennsylvania, New Jersey, Maryland and Delaware. The facility employs 11 full-time and three part-time staff.
ASV Signs Five-Year Supply Agreement with Caterpillar
ASV, Inc., a manufacturer of rubber track loaders, undercarriages and related accessories, has signed a five-year supply agreement with Caterpillar Inc., effective November 1. The new supply agreement builds on the success the two companies have created in the rubber track loader market from their original alliance agreement, which expires October 31.
Heavy Duty Aftermarket Groups Merge to Form New Association
The Council of Fleet Specialist (CFS) and The National Wheel and Rim Association (NWRA) have announced plans to merge their two associations into the Commercial Vehicle Support Network (CVSN). CVSN will represent the strongest, purely-independent distributors in the heavy-duty aftermarket business. The members of both groups voted to approve the merger.
NTEA’s Economic Outlook Conference Forecasts Continued Growth in Truck Sales
Leading U.S. economists at the National Truck Equipment Association’s (NTEA) Economic Outlook Conference agreed that 2006 will be a year of continued growth for the commercial truck and transportation equipment industry. Four top analysts shared economic forecasts with nearly 100 industry professionals in Dearborn, MI.
Navistar Reports Strong Third Quarter, Nine Month Results
Navistar International Corporation, a producer of commercial truck, school bus and mid-range diesel engines, recently reported improved earnings for its third fiscal quarter ended July 31, 2005.
GVW Holdings Completes Sale of Workhorse and Uptime Parts to International Truck and Engine
Grand Vehicle Works Holdings Corporation recently announced the closing of its sale of two subsidiaries, Workhorse Custom Chassis, LLC, and Uptime Parts, LLC, to International Truck and Engine Corporation. Plans for the sale were first announced in July. Terms of the cash deal were not disclosed.
Schneider Logistics May Buy American Port Services, Sale Pending
International logistics provider Schneider Logistics, Inc., part of the Schneider National enterprise, has signed a definitive agreement to acquire American Port Services, a leading U.S. provider of port transloading/deconsolidation, warehousing and distribution services. Terms of the agreement were not disclosed.
International Truck and Engine To Manufacture Trucks and Buses in India in Joint Venture
Navistar International’s operating company, International Truck and Engine Corp., said this week it intends to enter into a joint venture with Mahindra & Mahindra (M&M) of India to produce and market light, medium and heavy commercial vehicles for India and export markets.
PPG Commercial Coatings Introduces Online Estimating System for Heavy-Duty Truck Repairs
PPG Commercial Coatings has introduced a new one-of-a-kind estimating system specifically designed for the commercial truck market. The AdjustRite Commercial Estimating System is the first comprehensive estimating system available to fleet repairers that takes into consideration both the estimating process and the associated parts and labor required for a repair. The Internet-based system was created by PPG and GTS Services, a software development company.
NTEA’s Economic Outlook Conference Delivers Business-Planning Information for 2006
The National Truck Equipment Association (NTEA) will host its annual Economic Outlook Conference (EOC) Sept. 21 at the Hyatt Regency Dearborn in Dearborn, Mich. Featuring forecasts delivered by top economists and industry experts, the EOC is a business planning resource for 2006 and beyond designed to help commercial truck and transportation equipment professionals gain insight and find answers to issues affecting the industry that impact their businesses. The full-day conference is geared to those involved in strategic business planning, such as top executives and managers, as well as marketing and sales personnel.