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December 28, 2017 - Industry News

Workhorse to Spin Off Aviation Business

The SureFly Octocopter Photo: Workhorse Group

Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.

Tags: Workhorse, Corporate Restructuring, Equity Markets

December 23, 2015 - Industry News

Element Financial Closes $4.8B in Funding

File logo

Toronto-based Element Financial Corp. has closed $4.8 billion in rated asset-backed security funding that will fuel the company's aggressive move into the U.S. fleet management business.

Tags: Mergers & Acquisitions, Equity Markets, Element Fleet Management

June 29, 2015 - Industry News

Element to Acquire GE Capital's Fleet Business

File photo of GE Capital Fleet's Vehicle Innovation Center in Eden Prairie, Minn.

Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.

Tags: GE Capital Fleet Services, GE Capital, Element Fleet Management, Mergers & Acquisitions, Equity Markets, Fleet Management Companies

April 13, 2015 - Industry News

GE to Sell Fleet Management Unit by 2018

General Electric will sell off its fleet management and automotive financing business units by 2018 under a strategic plan to focus on its core businesses and shed most of its finance and banking businesses, the company has announced.

Tags: GE Capital Fleet Services, Fleet Management Companies, Mergers & Acquisitions, Equity Markets, GE Capital

March 3, 2015 - Industry News

Navistar International Trims 1st Quarter Loss

Navistar's Lisle, Ill., headquarters. File photo.

Navistar International Corp. announced on Tuesday that it is still losing money, but nowhere near as much as it did a year earlier, thanks to higher sales and lower warranty costs.

Tags: Navistar, Earnings, Equity Markets

March 2, 2015 - Industry News

Clean Energy Fuels Sales Jump

Photo: Evan Lockridge

Despite lower diesel prices potentially making natural gas less attractive as a fuel, Clean Energy Fuels Corp. sold more of its alternative to trucking’s main fuel last year while reporting mixed financial numbers.

Tags: Clean Energy Fuels, Earnings, CNG Fueling Stations, Equity Markets

February 6, 2015 - Industry News

Hankook Tire Reports Solid 2014 Growth

Hankook Tire recorded revenue of about $6.3 billion and an operating profit of $979 million for 2014, the company announced. The overall operating profit was on par with 2013 results.

Tags: Hankook, Tires and Wheels, Equity Markets, Financial Report

February 5, 2015 - Industry News

Navistar Details Post-Turnaround Plans

Photo of International DuraStar reefer truck courtesy of Navistar.

Top executives of Navistar detailed how the manufacturer will build on the ground it gained in the past two years and gave a five-year plan for the future at the company's analyst day, hosted at Navistar headquarters.

Tags: Navistar, EPA 2010, SCR, Equity Markets, Medium-Duty Trucks, Emissions Reduction

October 30, 2014 - Industry News

Cummins Reports Strong Earnings in Q3

Cummins reported its third quarter revenue was $4.9 billion, a 15% increase from the third quarter of last year. Stronger demand for on-highway markets and distributor acquisitions in North America was a significant factor in revenue growth.

Tags: Cummins, Quarterly Earnings, Equity Markets, Engines

September 17, 2014 - Industry News

FedEx Quarterly Profit Surges 24% to $606 Million

Net income totaled $606 million or $2.10 per share, up 37% from last year’s $1.53 per share. Revenue was $11.7 billion, an increase of 6% from the same time a year earlier.

Tags: Earnings, FedEx, Equity Markets

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