Industry News

Miller Industries, the world's largest manufacturer of towing and recovery equipment. So, yeah, there will be a celebration in Chattanooga on Saturday, Sept. 10, to mark the tow truck's 100th birthday. Miller Industries will sponsor the festivities, which include a parade of tow trucks rolling through downtown that will stop around 7 p.m."/>
The tow truck was invented in Chattanooga 100 years ago, and yes, there will be a celebration [Chattanooga Times Free Press, Tenn.]
Delta Air Lines reported Friday a $100 million hit to its revenue caused by the system outage last month. The Atlanta-based airline canceled about 2,300 flights in the wake of a power failure on Aug. 8 that was caused by misconfigurations of a backup power supply for its servers. About 300 of the airline's 7,000 servers weren't properly connected to the backup energy source."/>
System outage at Delta cost the airline $100 million in revenue [Star Tribune (Minneapolis)]
Tennant Co. wrapped up a big week with acquisition news from Mexico and a high-profile debut at the U.S. The maker of large and ridable floor cleaners and street sweepers announced Friday that it had bought the assets of Mexican distributor Dofesa Barrido Mecanizado effective Sept. 1. The deal will give Tennant's Mexico operations a broader representation in key regions such as Mexico City, Monterrey, Guadalajara, and Puebla, officials said."/>
Tennant buys Mexican distributor, gets exposure at U.S. Open [Star Tribune (Minneapolis)]
Jet Airways India Ltd has started streaming audio and video content to passengers' laptops and mobile on its flights from Friday and will offer Wi-Fi soon. "Streaming of content on personal devices has become extremely popular globally, and we are confident that this initiative will appeal to all our guests especially the millennials who prefer to access content on the move," Gaurang Shetty, director of Jet Airways, said in a statement. The service named Jet Screen..."/>
Jet Airways starts video streaming, to launch Wi-Fi soon [Mint, New Delhi]
Accuride Corp., which makes truck wheels at its plant on East 12th Street, will soon have a new owner. Crestview Partners, a private equity firm based in New York City, has agreed to acquire the company, which has its headquarters in Evansville, Ind. Accuride, a supplier of wheels, components and assemblies, employed about 270 workers at its Erie plant in 2012."/>
Erie plant's parent company sold [Erie Times-News, Pa.]
Universal Forest Products is acquiring idX Corp., an Earth City-based manufacturer of custom furniture and fixtures for retailers, restaurants and hotels, for $162.5 million. Grand Rapids, Mich.-based Universal Forest Products is paying $68 million to acquire idX's stock in addition to paying $94.5 million to retire idX's debt and other financial obligations, the company said in a regulatory filing. The acquisition is slated to close by the end of the third quarter...."/>
Michigan company buying Earth City-based idX [St. Louis Post-Dispatch]
Reinsurance Group of America devoted the first sentence of its first-quarter report to "operating income," marked with an asterisk. Net income was relegated to the second sentence."/>
SEC puts limits on rose-colored earnings reports [St. Louis Post-Dispatch]
Tennant Co has acquired the assets of it Mexico distributor Aguascalientes, Mexico-based industrial machinery distributor Dofesa Barrido Mecanizado S.A. de C.V., the company said. The transaction closed on 1 September 2016, and terms were not disclosed. Tennant completed the acquisition through its existing Mexican subsidiary, Tennant Sales and Services of Mexico."/>
US Cleaning Equipment Firm Tennant Acquires Mexican Distributor Dofesa
Nordson Corp. has acquired Ventura, California-based precision couplings and fittings maker LinkTech Quick Couplings, Inc., the company said. Terms of the deal were not disclosed. Founded in 2005 and employing 30 people, LinkTech will become part of the Nordson Medical product line within Nordson's Advanced Technology Systems segment."/>
Nordson Acquires California Couplings, Fittings Maker LinkTech Quick
Republic Airways Holdings Inc. announced today that it has reached an agreement with American Airlines that secures a long-term relationship between the two airlines and today has filed a motion for its approval in the United States Bankruptcy Court for the Southern District of New York. “This is a major milestone in our journey towards a..."/>
Republic Airways Holdings Inc. and American Airlines Reach Comprehensive Agreement on a Long-Term Commercial Relationship
AECOM. Investors who purchased or otherwise acquired shares between February 11, 2015 and August 15, 2016 are encouraged to contact the Firm in advance of the October 31, 2016 lead plaintiff motion deadline.. If you are a shareholder who suffered a loss during the Class Period, click here to participate."/>
INVESTOR ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit against AECOM and Encourages Investors with Losses to Contact the Firm
Hub Group, Inc., as a top 10 third party logistics provider for 2016. This marks the 8 th consecutive year Unyson has been so honored by the publication. A list of this year's Excellence Survey winners, as well as information on the top 100 logistics solutions providers, is available on the..."/>
Inbound Logistics Names Hub Group A Top 10 3PL For 8th Consecutive Year
Huntington Ingalls Industries announced today the completion of the first round of sea trials for the guided missile destroyer John Finn. The Arleigh Burke- class ship, built at HII’ s Ingalls Shipbuilding division, spent three days in the Gulf of Mexico testing the ship’ s main propulsion system and other ship systems.. “The DDG 51 program has been the backbone of our shipyard for nearly three decades,” said Ingalls Shipbuilding President Brian Cuccias.“..."/>
VIDEO RELEASE--Ingalls Shipbuilding Completes First Set of Builder’s Trials for Destroyer John Finn (DDG 113)
ArcBest SM company, today announced it has acquired Logistics& Distribution Services, LLC, a private logistics and distribution company headquartered in Sparks, Nevada, effective today, in a transaction valued at $25.0 million, subject to normal post-closing adjustments. The transaction reflects cash consideration of $17.0 million paid at closing and an additional $8.0 million that will be held in escrow and released..."/>
ABF Logistics Acquires Logistics & Distribution Services, LLC
Delta Air Lines reported Friday a $100 million hit to its revenue caused by the system outage last month. The Atlanta-based airline canceled about 2,300 flights in the wake of a power failure on Aug. 8 that was caused by misconfigurations of a backup power supply for its servers. About 300 of the airline's 7,000 servers weren't properly connected to the backup energy source."/>
System outage at Delta cost the airline $100 million in revenue [Star Tribune (Minneapolis)]

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