PGT Trucking plans to expand its Laredo, Texas, operations by building a new facility expected to be completed by December 2023. The organization provides flatbed, dedicated, and international services. The project would serve as a base for upwards of 70 local truckers as the operation hauls more than 4,000 loads across the U.S.-Mexico border annually.
“This is an exciting move for PGT. We’re looking forward to growing our relationships and strengthening partnerships in the south to support our customers’ international shipping needs. Our new facility in Laredo will elevate PGT’s service offerings for our drivers, customers and local community,” PGT Trucking Manager of Southwest Regional Operations Sergio Villarreal reportedly said.
DB Schenker Completes USA Truck Acquisition
DB Schenker announced its intention to purchase USA Truck in June and the Germany-based company recently finalized the deal. Under the agreement, DB Schenker gains all of USA Truck’s stock at $31.72 per share. With a fleet of 1,900 trucks, 2,100 staff members, and 36,000 ongoing contracts, USA Truck is reportedly valued at $435 million.
“USA Truck’s success has been driven by their impressive employees — all of whom are critical to future growth — and we look forward to welcoming them as an integral part of our team,” Joe Jaska, executive vice president at DB Schenker, reportedly said. “As part of a larger organization with DB Schenker, USA Truck employees will have access to career opportunities at both the local and global level. We view this transaction as a platform for growth and by combining these organizations, we will greatly enhance our presence in the North American land transport space.”
FedEx Expected to Take Cost-Cutting Measures
Decision-makers at FedEx Corp hope to save upwards of $2.7 billion by slashing flights and closing several offices. The moves appear consistent with an early-September review that pointed to an earnings shortfall.
“We’re moving with speed and agility to navigate a difficult operating environment, pulling cost, commercial and capacity levers to adjust to the impacts of reduced demand,” Chief Executive Officer Raj Subramaniam reportedly stated.
The good news for truckers is that FedEx plans to generate greater profits through its ground game. Express, home delivery, and ground rates are expected to tick up by approximately 6.9 percent. The household name operation has struggled with competition from Amazon, UPS, and others. It recently came under fire from disgruntled third-party logistics partners and driving contractors.
Truckers Haul 58.5 Percent of U.S.-Canada-Mexico Goods & Materials
A recent report indicates that truckers moved $33.5 billion worth of freight across the U.S.-Canada border in July and another $44 billion across the Mexican border.
The combined freight total increased by 12.9 percent compared to July 2021. It also totaled 58.5 percent of all transborder freight, according to the U.S. Bureau of Transportation Statistics. Leading commodities included computers and parts ($15.3 billion), electrical machinery ($11.9 billion), and vehicles and parts ($9.9 billion). Other modes of transportation saw increases, but truckers moved the lion’s share.