International technology Group Andritz has signed a contract for acquisition of Paperchine Inc., owned by AstenJohnson Holdings Ltd., headquartered in Charleston, S.C. The purchase is subject to approval by the antitrust authorities and is expected to be closed by the end of June. A global supplier of highly engineered equipment and services to paper manufacturers, Paperchine and its subsidiaries employ a workforce of approximately 180. It operates a manufacturing facility in Vancouver, B.C., along with several others in the United States, Germany and Thailand. Operating more than 250 sites around the world, Andritz is a supplier of plants, equipment, and services for hydropower stations, the pulp and paper industry, the metalworking and steel industries, and for solid/liquid separation in the municipal and industrial sectors as well as for animal feed and biomass pelleting. Click Read More below for additional detail.
This year has been rocky for the $800 billion trucking industry.
After a raucous 2018, 2019 has seen retailers and manufacturers moving less, according to the Cass Freight Index. Freight rates have dipped year over year for six months straight. Loads on the spot market, in which retailers and manufacturers buy trucking capacity as they need it rather than through a contract, have fallen by a chilling 62.6% in May year over year.
And that means rates have dipped for independent truckers as well as major companies. Rates for van loads sank 20% in May year over year, according to DAT.
The earnings of big and small players alike are getting hit as factory activity continues to decline. The Lexington, Ky., owner-operator Chad Boblett said some truck drivers are seeing a “bloodbath.”
more at source: https://www.msn.com/en-us/money/companies/truckers-sound-the-alarm-as-shipping-companies-hit-the-skids/ar-AAD4tQq?li=BBnb7Kz