Richard G. Phillips will remain chief executive officer of Pilot Freight Services, and his family “will maintain a significant equity stake” in the company.
The freight broker and third-party logistics provider also said Wednesday it has completed the integration of truckload-oriented freight broker Command Transportation, LLC, which it acquired in June 2015 for $420 million.
The railroad transportation equipment manufacturer posted net earnings of $183.2 million in fiscal 2016, ended Aug. 31, a 5 percent decrease from the previous fiscal year, even as revenues reached a record $2.68 billion.
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Wilmington, Calif.-based Trapac disclosed its plans to lease an additional 57 acres and two vessel berths at the port during a meeting of Oakland’s Board of Port Commissioners last night.
Guy Courtin, vice president of industry and solution strategy at GT Nexus, said shippers should think of visibility as a tool to monitor and connect all of their trading partners, whether product suppliers or transportation vendors.
In addition, the containership leasing company reported a profit of $20.7 million for the third quarter of 2016, down from $34.8 million a year earlier.