Volvo Trucks North America and Mack Trucks are recalling nearly all the battery-powered electric trucks made over the past four years because of an issue that can cause a battery fire. The recall is the fourth for the trucks since they entered series production in 2022. The latest recall affects 173 Volvo and nine Mack…
TFI International Inc. said Monday it has acquired JHT Holdings Inc., an asset-light North American transportation provider for Class 6-8 truck manufacturers. Terms of the transaction were not disclosed. The deal is expected to close in the third quarter. JHT CEO John Harrington will stay on with the company. Founded in 1933 and based in…
The current freight recession has forced companies across the logistics industry to focus their attention on cutting out waste and safeguarding profits. In order to reduce costs and improve service, organizations must be able to spot — and solve for — inefficiencies. Because of this, companies are working hard to create end-to-end visibility in their…
One aspect of the Yellow bankruptcy that looms in the background is that the LTL carrier has not defaulted on its senior secured debt and may not do so. Buried within a more than 300-page document that spells out the provisions of the debtor-in-possession (DIP) financing that Yellow has obtained from Apollo Management is the…
Western Global Airlines, which operates chartered cargo jets for the U.S. military and other customers, on Monday filed for Chapter 11 bankruptcy protection and announced it will restructure with the help of $77 million in financing from creditors, including bondholders with more than 85% of the outstanding senior unsecured notes. A bankruptcy restructuring has been…