Sky-high diesel prices squeeze truckers, farmers, consumers
For months, motorists have felt the pain of high gasoline prices. Many might not know that they’re also absorbing the impact of much costlier diesel in the form of higher priced goods.
Trucking
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Cummins to acquire Meritor for $3.7B
Columbus-based Cummins said its acquisition of Michigan-based Meritor, a maker of electric axle and brake technology, will help accelerate Cummins’ electric and hybrid business.
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Cummins to acquire brake manufacturer for $325M
Cummins announced Wednesday that it’s signed an agreement to purchase Connecticut-based Jacobs Vehicle Systems from its current owner for $325 million. The deal is expected to close later this year.
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Pandemic forces delay in fraud trial of former Celadon execs
The criminal case against former Celadon executives Eric Meek and Bobby Peavler had been scheduled to begin on Feb. 22, but the judge has rescheduled the trial because local COVID-19 positivity rates are too high.
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Celadon auctioning off equipment from east-side headquarters
Indianapolis-based Key Auctioneers will be handling the sale of office furniture, computers, truck parts and other items from Celadon’s east-side headquarters as the trucking company liquidates its assets in bankruptcy.
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Articles
Trucker blockade snarls U.S.-Mexico trade route at border
One of the busiest trade ports on the U.S.-Mexico border remained effectively closed Wednesday as frustration and traffic snarls mounted over orders by Texas Gov. Greg Abbott requiring extra inspections of commercial trucks.
Fuel-price hikes hitting shippers, truckers across U.S. economy
For trucking fleets—which move 70% of the U.S.’s freight tonnage—the sudden jump in prices is set to hurt smaller operators who have to cover the extra fuel cost on the spot and wait for surcharges to be reimbursed, American Trucking Association Chief Economist Bob Costello said.
EPA rule would make heavy trucks cut smog, soot pollution
The proposal released Monday by the Environmental Protection Agency would require the industry to cut nitrogen oxide emissions by up to 90% per truck over current standards by 2031.
Indy trucking company to hire more than 90 new workers
Indianapolis-based Renewable Transport Services Inc. plans to add more than 90 jobs by the end of 2025 and invest $20 million to upgrade its southside facilities.
Multitude of creditors left high, dry as Celadon bankruptcy case closes
With most liquidation efforts complete, Celadon has raised only $75 million—$45 million short of the $120 million it needed to satisfy a loan from its secured creditors.
State lawmakers debate whether to increase weight limits for trucks
Manufacturers and trucking groups are supportive of the legislation, but opponents, including law enforcement agencies, have raised concerns about possible damage to state infrastructure and safety on the roads.
Dickinson Fleet Services acquires Minnesota truck repair business
The acquisition, announced Tuesday, was the 11th for Indianapolis-based Dickinson since 2017.
North Split construction, traffic closures to begin in December
The North Split project, which was first announced in 2017, will reconfigure the Interstate 65/Interstate 70 interchange on the northeast side of downtown.
Ivy Tech, Conexus to launch first-of-its-kind truck driver training program
The one-semester program, which includes both on-the-road driver training and academic instruction, is set to begin in January at Ivy Tech campuses in Indianapolis, Lafayette, Fort Wayne, Evansville and Lawrenceburg.
Spot Freight spins off new software company, adds 40 workers
The spinoff company, Red Technologies, is built around proprietary software that Spot launched in 2015 to help connect shippers, trucking companies and drivers for the purpose of freight brokering.
Federal judge shoots down indicted executive’s vacation plans
Judge Jane Magnus-Stinson denied a request by former Celadon Group Inc. President William Meek to travel to a Mexican resort for a birthday celebration while he is awaiting trial on multiple fraud charges.
Palmer Trucks plans $17M expansion, 220 new jobs in Indianapolis
Plans call for the 55-year-old truck dealer to add a new dealership and training center on the east side of Indianapolis and expand its existing operations on the west side.
Cummins to form joint venture with hydrogen storage company
The announcement marks the latest in a series of steps the Columbus-based engine maker has taken in recent years to diversify its offerings in alternative-energy power systems.
Former Celadon affiliate 19th Capital sold in deal that should save dozens of jobs
Two out-of-state financial services firms have acquired the assets of former Celadon Group Inc. affiliate 19th Capital Group in a deal that will allow the Indianapolis-based company to continue operating with a reduced workforce rather than shutting down as previously planned.
Holcomb suspends commercial driver rule, acts to help low-income Hoosiers keep services
Holcomb signed an executive order meant to speed up deliveries to retailers, which are running short of supplies, by lifting regulations on the number of hours that commercial drivers can work.
Former Celadon affiliate 19th Capital to close, terminate 199 workers
The Indianapolis-based asset financing and fleet management company notified state officials this week that it will permanently close its operations late next month, eliminating all of its employees.
Celadon alleges North Carolina company is holding its vehicles for ‘ransom’
The trucking firm won a temporary restraining order against the repo company on Thursday.
VW plots U.S. truck expansion with $2.9 billion Navistar offer
Volkswagen has offered to buy the rest of Navistar International Corp. to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler and Volvo.
CEO leaving bankrupt Celadon for new logistics job
Celadon CEO Paul Svindland, who joined the company in 2017 and tried to turn around the troubled trucking company, is departing for a CEO job at another logistics company.