Daily Archives: May 2, 2017

CEVA has robust First Quarter 2017

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CEVA Holdings LLC – Results for the Quarter One ended 31 March 2017

  • Good growth with revenue up 5% YoY in constant currency, both in Freight Management and Contract Logistics
  • Continued profitability improvement: Adjusted EBITDA of $54 million, up $2 million in constant currency, despite volatile market conditions and comparative
  • Delivering cost savings through Operational Excellence Program
  • Operating cash flow improved by $13 million reflecting continued focus on cash
  • ANJI-CEVA joint venture renewed for 15 years
  • Refinancing of key 2018 maturities successfully completed

Hoofddorp, the Netherlands, 3 May, 2017 – CEVA Holdings LLC (“CEVA” or the “Company”), one of the world’s leading non‐asset based supply chain management companies, today reported results for the first quarter of the year ended 31 March, 2017.

Read more at www.cevalogistics.com

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Roadrunner Transportation Systems Announces Preferred Stock Investment, Credit Facility Refinancing Plans and New Executive Management Team

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Cudahy, WI – May 2, 2017 – Roadrunner Transportation Systems, Inc. (“Roadrunner”) (NYSE: RRTS), a leading asset-right transportation and asset-light logistics service provider, announced today an approximately $540 million redeemable preferred stock investment from affiliates of Elliott Management, a private investment firm which is an existing holder of approximately 8.6% of Roadrunner’s common shares.

Proceeds from Elliott Management’s investment were used to pay off and terminate the company’s senior credit facility and to provide working capital to support the company’s current operations and future growth. The company expects that approximately $240 million of the new preferred stock investment will soon be replaced with a new asset-based lending (“ABL”) facility with a group of commercial lenders, which may include members of the company’s previous bank group.

Read more at www.rrts.com

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DACHSER to exhibit at transport logistic show

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At transport logistic, the industry’s leading exhibition, DACHSER is highlighting its expertise in fulfillment and digital networking. The supplier of logistics services invites industry specialists to visit its booth in Hall B6, Booth 101/202 at the Munich Messe fairground.

During the course of the show, DACHSER is showcasing its role as the technological trendsetter in the logistics industry. It will highlight how it is making global supply chains transparent, efficient, secure, and flexible. The company also aims to present current developments in the digitalization of logistics and new approaches to city distribution. In addition, visitors will see innovative visualization methods for planning warehouse projects along with a glimpse into current research and development projects at Dachser. “We will show that with Logistics 4.0, DACHSER is an Industry 4.0 partner,” explains DACHSER CEO Bernhard Simon.

Read more at www.dachser.com

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Hongkong Post to issue “Outdoor Fun” special stamps

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Hongkong Post announced today (May 2) the issue of a set of special stamps on the theme “Outdoor Fun”, together with associated philatelic products, on May 16 (Tuesday).

Hong Kong is a bustling metropolis well known for its fast-paced city life. Nevertheless, one can easily take a break from the hustle and enjoy all manner of outdoor activities while exploring the other side of Hong Kong.

A wide range of open-air recreational pursuits suitable for all ages is organised in various districts in Hong Kong. To encourage public participation in outdoor activities and advocate a healthy and active lifestyle, Hongkong Post conducted a voting exercise on “My Favourite Outdoor Recreational and Leisure Activities” from February to March in 2016. Six such pastimes with high popularity ratings in the poll are featured in this set of special stamps entitled “Outdoor Fun”, which comprise picnic and barbecue ($1.70), cycling ($2.20), visiting heritage sites ($2.90), beach fun ($3.10), hiking ($3.70) and outdoor photography ($5).

Read more at hongkongpost.hk

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Commerce Initiates an AD/CVD Investigation for Certain Tool Chests and Cabinets

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On May 2, 2017 the Department of Commerce (Commerce) issued a Fact Sheet announcing the initiation of an Antidumping and Countervailing duty investigation of Certain Tool Chests and Cabinets from the People’s Republic of China and the Socialist Republic of Vietnam.

The Fact Sheet explains that, “The products covered by these investigations are certain metal tool chests and tool cabinets, with drawers, from China and Vietnam. The scope covers all metal tool chests and cabinets, including top chests, intermediate chests, tool cabinets and side cabinets, storage units, mobile work benches, and work stations…”

Read more at expeditors.com

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