Heritage Transport recently announced the acquisition of Frank’s Vacuum Truck Service.
Providing hazardous waste transportation services throughout the lower 48 states, Heritage delivers materials to EPA-approved treatment, storage, and disposal facilities. Based in Niagara Falls, New York, Frank’s Vacuum possesses 150 trucks and employs 60 people. The operation hauls hazardous and non-hazardous waste in Canada and the U.S. The purchase of Frank’s provides Heritage with an opportunity to extend its footprint throughout Western New York, the Midwest, and Eastern U.S.
“We’re grateful for the opportunity to carry on the Frank’s Vacuum Truck Service legacy,” Steve Clausing, President of Heritage Transport, reportedly said. “We operate under the same values and approach to customer service and are thrilled to welcome another family-owned company into the fold.”
Heritage is a family-owned business with more than 50 years of experience. The organization is also a two-time recipient of the U.S. EPA SmartWay Excellence Award for Environmental Performance and Leadership, and a member of the Indiana Motor Truck Association, and the American Trucking Associations.
Deutsche Bahn Explores Sale of Schenker
DB Schenker, the parent company of USA Truck, may be up for sale in the near future. Reports indicate the German-owned operation is actively preparing and exploring the sale of DB Schenker.
“The start of a concrete sales process depends on the overall environment and has not yet been scheduled,” according to a company statement. “A sale should only take place if it is financially advantageous compared to DB Schenker remaining in the DB Group.”
The Supervisory Board of Deutsche Bahn AG, also known as DB, acquired USA Truck for $435 million in June. Although DB Schenker delivered years of growth, it appears industry shifts make it something of a business liability under the current hierarchy.
“DB Schenker will require larger financial resources and more independence to make international acquisitions with a view to retaining and enhancing its market position in the ever more competitive logistics sector and its enterprise value in the future. For this reason, a sale could open up new opportunities for DB Schenker in terms of growth and development,” according to a Deutsche Bahn statement.
Reports indicate Schenker has a value of at least $21.4 billion. It generated gross sales of more than $27.7 billion and employs 76,000 people at 1,850 locations in 130 countries. The operation handles freight transportation, contract logistics, and operates a large less-than-truckload network in Europe. Schenker manages more than 27 million square feet of distribution space in the Americas.
One of the driving reasons for the potential sale stems from its railroad operations carrying a reported $30 million in debt. By contrast, DB Schenker recently generated $1.3 billion in operating profit. That ranked as its best mid-year posting in the outfit’s 150-year history.
Sources: prnewswire.com, bloomberg.com, freightwaves.com
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