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Industry News - Page 388 of 708

  • SPACs Fueling Over US$38 Billion In IPO’s For Commercial Transportation

    Special Purpose Acquisition Companies (SPACs) have been growing exponentially, annually over the last two years.  According to ABI Research, a global tech market advisory firm, more than US$38 billion in pro forma equity valuations were attributed to the commercial vehicle space. All those IPO’s focused on strategic technologies for last mile, automation, and/or electrification/alternative fuels.  

    SPACs Fueling Over US$38 Billion In IPO’s For Commercial Transportation

     


    “Multiple manufacturers from Nikola to Proterra, Lordstown, Lion Electric, Hyzon Motors, Einride, and Plus require significant capital to enable full production, with investors ramping up SPAC’s and joining in bidding wars in some cases,” states Susan Beardslee, Freight Transportation, and Logistics Principal Analyst at ABI Research.

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    Aug 17, 2021 - 4 years ago

  • Hendrickson STEERTEK NXT Available on Select Kenworth and Peterbilt Truck Models

    Hendrickson Truck Commercial Vehicle Systems announced today that its STEERTEK NXT fabricated front steer axle has been selected as the standard front axle on the new Kenworth and Peterbilt medium-duty truck models.

    Hendrickson STEERTEK NXT Available on Select Kenworth and Peterbilt Truck Models

     

    STEERTEK NXT is now available to order on Kenworth T180, T280, T380, & T480 trucks and Peterbilt Models 535, 536, 537, & 548 trucks as standard equipment with the additional capacity options.  Hendrickson’s proprietary design and manufacturing process saves weight compared to traditional I-beam axles while combining rigid strength, outstanding maneuverability due to 55 degrees of wheel cut, and reduced maintenance. As with the rest of the STEERTEK NXT portfolio, these new axles come with a best-in-class service interval and feature an exclusive 10-year, 1-million-mile warranty.

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    Aug 17, 2021 - 4 years ago

  • Sensational Six: Trucking Leads Fight Against Prostate Cancer Again

    The Canadian Trucking industry has won the prostate cancer-fighting fundraising contest known as Plaid for Dad as many times as Michael Jordan has NBA titles.

    Sensational Six: Trucking Leads Fight Against Prostate Cancer Again

    For the sixth year in a row, the trucking industry – and Canadian Trucking Alliance member carriers, in particular – won the annual fundraising effort, organized by the Canadian Cancer Society to battle prostate cancer.  (Jordan, who won six NBA titles with the Chicago Bulls, needed eight years to do it, however).

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    Aug 17, 2021 - 4 years ago

  • Cervus Equipment Corporation Agrees To Be Acquired By Brandt Tractor Ltd.

    Cervus Equipment Corporation (“Cervus” or the “Company”) (TSX: CERV) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement”) pursuant to which Brandt Tractor Ltd. (“Brandt”) will acquire all of the issued and outstanding common shares of the Company, excluding those held by Brandt, for $19.50 per share in cash (the “Consideration”), valuing Cervus at approximately $302 million on an equity value basis (the “Transaction”). The Consideration represents a 37% premium to the 20-day volume-weighted average price of the Company’s shares on the Toronto Stock Exchange for the period ending August 13, 2021.

    Cervus Equipment Corporation Agrees To Be Acquired By Brandt Tractor Ltd.

     

    Angela Lekatsas, President and Chief Executive Officer of Cervus, said, “This Transaction delivers tremendous value for our shareholders and clearly demonstrates the successful execution of our strategy. As a private company with a committed, well-capitalized and long-term owner, Cervus will be better positioned for the next stage of evolutionary growth for our dealerships. The size and scale of the entity created by the combination of our two companies will allow for increased investment into Cervus for the benefit of our employees and customers”.

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    Aug 16, 2021 - 4 years ago

  • Hitachi Rolls Out Grade Control Technology Options For Select Excavators

    Hitachi Construction & Mining Division, an operating division of John Deere Construction & Forestry Company (“Hitachi”), has rolled out options for its grade control technology, on select excavators, including 2D Grade Control and Solution Linkage 3D Grade Control, which allow an operator to set a grade and hold it.

    Hitachi Rolls Out Grade Control Technology Options For Select Excavators
    With Hitachi Solution Linkage 3D Grade Control, the machine controls the boom and bucket as the operator handles the arm.

     

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    Aug 16, 2021 - 4 years ago

  • Coal Exploration Halted On Alberta’s Category 2 Lands

    In response to concerns raised by Albertans, including those who participated in a recent online survey, Alberta’s government is immediately halting all coal exploration projects in Category 2 lands.

    Coal Exploration Halted On Alberta’s Category 2 Lands
    Thermal coal from Genesee Mine, located west of Edmonton and operated by Westmoreland Coal Company. Photo courtesy Coal Association of Canada.

     

    Almost 25,000 Albertans from across the province shared feedback to help inform the next steps of the coal policy engagement through an online survey from March 29 to April 19.

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    Aug 16, 2021 - 4 years ago

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