GENERAL ELECTRIC COMPANY (NYSE:GE) & SOUTHWESTERN ENERGY COMPANY (NYSE:SWN) NEWS RECAP

GE Transportation | October 18, 2016

On Monday, Shares of General Electric Company (NYSE:GE) lost -0.14% to $28.85. The share price is trading in a range of $28.70 – 28.99. The stock exchanged hands with 32.74 million shares contrast to its average daily volume of 39.73 million shares.GE (NYSE: GE) recently unveiled Efficor*, a global range of contactors designed to perform in demanding environments counting oil and gas, marine and mining applications, among others. With Efficor, GE offers original equipment

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Penske is a company where people help people move ahead in business and life. We offer exciting and dynamic careers in the transportation and logistics industry. Penske is a $5.6 billion leading provider of: full-service truck leasing, contract fleet maintenance, commercial and consumer truck rental, used truck sales as well as third-party logistics, warehouse management, and innovative supply chain solutions.


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LOGISTICS

Pozyx Unlocks the Potential of Smart Warehousing and Showcases Its New Pozyx Platform at Fabriek Logistiek

Pozyx | June 17, 2022

Pozyx, an industry-leading provider of RTLS (real-time location systems), has partnered with Fabriek Logistiek, the Belgian warehouse test center, to demonstrate its warehouse orchestration system based on real-time positioning to improve labor efficiency, increase safety and optimize inventory control in warehouse and logistics operations. Intelligent warehousing and logistics can benefit operational efficiency by tracking assets and optimizing process flows, thereby increasing profit margins. The Pozyx RTLS helps improve the WMS (warehouse management system) and provides real-time asset tracking and identification, easier inventory management, greater operator effectiveness, better space utilization, reduced costs, and increased safety in the warehouse. Losing track of pallets, carriers or goods means losing time and money. The Pozyx RTLS tracks bins, orders, pallets, returnable packaging, and vehicles in the warehouse and on the road. The location-based trigger system provides a detailed overview of pallet and good locations and their movements. Material handling routes can be evaluated and analyzed to enhance process workflows, resolve bottlenecks and optimize the warehouse footprint. The Pozyx RTLS provides insights on how and where people work to better plan and optimize human resource management, optimize work shifts and labor efficiency, and calculate labor costs. It tracks forklifts, autonomous vehicles, and high safety-risk assets to reduce collision risks. The Pozyx solution maintains inventory control by eliminating manual scanning and reducing laborious and expensive physical inventory counts. Knowing the exact location of goods, pallets, and assets not only saves time but also slashes lost inventory costs. Pozyx will demonstrate its RTLS and the benefits in warehousing during the official opening of Fabriek Logistiek on June 20th, 2022. To learn more about the Pozyx solution for optimized warehousing, please visit https://www.pozyx.io/solutions/industry-4-0/warehouse-optimization About Pozyx Pozyx delivers the most flexible real-time location system (RTLS) and software platform for global asset tracking and identification based on UWB (ultra-wideband) and other location technologies. Since 2015, Pozyx has built a strong product portfolio with a focus on innovative solutions for Industry 4.0 and smart manufacturing. Cutting-edge hardware and firmware are combined with algorithms and analytics software to translate the stream of real-time locations into smart data and value-creating insights. The Pozyx offering covers the most demanding industry requirements for reliability, stability, robustness, and scalability.

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TRANSPORTATION

Oatly Adds Electric Trucks to Its North American Transportation Logistics

Oatly Group AB | June 10, 2022

Oatly Group AB (Nasdaq: “OTLY”) (“Oatly” or the “Company”), the world’s original and largest oat drink company, announced today the introduction of electric powered, heavy-duty trucks to the Company’s ground transportation in North America. Finding initial success with utilizing electric trucks as part of the Company’s transportation operations in Europe beginning in 2020, Oatly now expands the initiative to include an initial fleet of five electric trucks in the U.S. As part of its ambition to set an example as a future company, Oatly aims to shift to 100% sustainable ground transport for its products and materials by 2029. The introduction of electric trucks within U.S. operations helps build toward this ambition. “Oatly is on a mission to transform the global food system into one that is healthier for people and the planet. A critical part of that system includes the transportation we and the broader food and beverage industry utilize across the supply chain,” said . Any improvements we can make across our business to have less of an impact on the environment, including within our transportation logistics, is a step in the right direction and something we constantly strive for at Oatly. We’re thrilled to get these electric trucks on the road in North America and continue our global transition to sustainable ground transportation.” -Chi Mbachu, VP of Logistics at Oatly, North America Einride, a leader in providing electric and autonomous shipping solutions and Oatly’s existing electric shipping partner in Europe, now serves as the Company’s freight mobility partner in North America. For Oatly, Einride provides electric freight solutions including connected electric trucks, charging infrastructure and connectivity services, all powered by Einride Saga, which manages a proprietary operating system that ensures optimized and efficient shipping. Based on estimates from Einride, utilizing this fleet of five trucks in the U.S. will save Oatly an estimated 400,000 kg of CO2 over the next year, as compared to using diesel trucks on the same routes. That’s a carbon footprint reduction of 87% on selected routes, as compared to using diesel trucks. Oatly is utilizing its fleet of five electric trucks from its two currently operating factories in the U.S., located in Ogden, UT and Millville, NJ. Multi-purpose routes are scheduled routinely from Oatly plants to nearby recycling and packaging partners. As one of the first companies in Europe to implement a fleet of heavy-duty electric trucks beginning in October 2020, Oatly operates four electric trucks across various routes in the region, specifically in Sweden, which operate 24/7 live transports between Oatly production facilities and warehouse partners. In Europe, Oatly sees an 87% reduction in CO2 utilizing the fleet of four electric trucks, compared to diesel equivalents on the same routes and expects to save 2,000 tons of CO2 in the European region by the fifth year of the initiative’s operations. Eighteen months since launch, this projection remains on track. About Oatly We are the world’s original and largest oat drink company. For over 25 years, we have exclusively focused on developing expertise around oats: a global power crop with inherent properties suited for sustainability and human health. Our commitment to oats has resulted in core technical advancements that enabled us to unlock the breadth of the dairy portfolio, including alternatives to milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks. Headquartered in Malmö, Sweden, the Oatly brand is available in more than 25 countries globally.

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SUPPLY CHAIN

Mandiant and Interos Join Forces to Advance Supply Chain Cyber Risk Management

Mandiant, Inc | June 02, 2022

Mandiant, Inc. (NASDAQ: MNDT) and Interos, the fast-growing operational resilience company, announced a strategic partnership to provide advanced insights and analysis to help enterprises defend against cyber attacks and other threats to their operational resilience. The collaborative partnership is designed to bring to market new intelligence based on insights gleaned from the Interos Resilience Lab, as well as Interos’ SaaS platform, and the frontline investigations and remediations Mandiant conducts regarding high impact cyber attacks worldwideMandiant M-Trends 2022 report shows that global supply chains remain an attractive target for threat actors who seek to take advantage of trusted business-to-business relationships, as attacking the supply chain provides an opportunity to pivot from one supplier network into multiple customer networks at once. In fact, when the initial infection vector was identified, supply chain compromise accounted for 17% of intrusions investigated by Mandiant in 2021, compared to less than 1% in 2020. Further, new data from Interos’ 2022 Annual Global Supply Chain Report reveals that organizations have been impacted by on average three significant supply chain disruptions within the last 12 months (not including the Ukraine war) – costing a combined $182 million in lost revenue. Cyber attacks account for $37 million of that figure. Additionally, the overwhelming majority (91%) of executives reported that their organizations had experienced supply chain disruptions from Tier 2 and Tier 3 suppliers in their extended supply chain. “Interos is focused on helping organizations ensure operational resilience; continuously delivering in-depth analysis on criticality for risk, and risk management, Together with Interos, Mandiant will be able to proactively problem solve with a company that is leading the way in ensuring organizations of all sizes understand key attack vectors across supply chain, threat actors and nation state threats.” -Marshall Heilman, Chief Technology Officer, Mandiant The partnership announcement follows a recent alert from the Cybersecurity and Infrastructure Security Agency (CISA) warning of an increase in malicious cyber activity targeting managed service providers (MSPs). The advisory also recommended MSPs to understand and proactively manage their supply chain risk. “The CISA warning is more evidence that existing supply chain risk management systems were not designed for today’s complex risk environment, Our collaboration with Mandiant will provide multi-factor risk intelligence to help commercial and government organizations better protect targeted entities in their third-party relationships to insulate them from disruption, ransomware, and IP theft. We’re proud to partner with Mandiant to help leaders discover hidden business relationships and exposure to cyber vulnerabilities.” -Nishant Gupta, Chief Technology Officer, Interos About Mandiant, Inc. Since 2004, Mandiant has been a trusted partner to security-conscious organizations. Effective security is based on the right combination of expertise, intelligence, and adaptive technology, and the Mandiant Advantage SaaS platform scales decades of frontline experience and industry-leading threat intelligence to deliver a range of dynamic cyber defense solutions. Mandiant’s approach helps organizations develop more effective and efficient cyber security programs and instills confidence in their readiness to defend against and respond to cyber threats. Join the conversation. Follow us on Twitter, LinkedIn, Facebook, and YouTube. Mandiant is a registered trademark of Mandiant, Inc. in the United States and other countries. All other brands, products, or service names are or may be trademarks or service marks of their respective owners. About Interos Interos is the operational resilience company — reinventing how companies manage their supply chains and business relationships — through our breakthrough SaaS platform that uses artificial intelligence to model and transform the ecosystems of complex businesses into a living global map, down to any single supplier, anywhere. The Interos Operational Resilience Cloud helps organizations reduce risk, avoid disruptions, and achieve superior enterprise adaptability. Based in Washington, DC, the fast-growing private company is led by CEO Jennifer Bisceglie and supported by investors Kleiner Perkins, NightDragon, and Venrock. www.interos.ai.

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TRANSPORTATION

ButcherJoseph Advised Smith Transport, Inc. on Its Sale to Heartland Express Inc.

ButcherJoseph & Co. | June 09, 2022

ButcherJoseph & Co. (“ButcherJoseph”) advised Smith Transport, Inc. (“Smith” or the “Company”), an asset-based truckload carrier headquartered in Roaring Spring, Pennsylvania, on its sale to Heartland Express, Inc. (NASDAQ: HTLD) (“Heartland”). The transaction closed in June of 2022. Heartland acquired 100% of the equity of Smith and related companies for a cash-free, debt-free enterprise value of approximately $170 million. Smith was an S corporation for tax purposes, and the transaction included an election under Section 338(h)(10) of the Internal Revenue Code, resulting in tax deduction benefits over periods of one to fifteen years. The purchase agreement contains customary terms and conditions. The Roaring Spring, Pennsylvania property was acquired from its owners in a separate transaction for $14 million in cash and includes both the trucking terminal and 375,000 square feet of warehouse space that is leased to tenants. Barry Smith, Smith’s Founder and Chairman Emeritus, added, Building Smith Transport has been my life’s work, and I could not have found a better home than Heartland for the Smith family. They offer us long-term stability and the opportunity to grow as part of an industry leader, while retaining our own culture and identity. I look forward to being part of the team to ensure a smooth transition. “As an employee-owned company, our goal was to find the best value and the best home for our people for years to come. We had long thought Heartland was a great fit because of their regional presence, respect for professional drivers, and unsurpassed customer service that mirrors our own philosophies. With the ability to pay cash and invest in our headquarters, and the desire for Smith to remain an independent brand operated by the same people, the choice was clear. I’m excited to work with Mike Gerdin and the Heartland team to make this a success for everyone.” -Todd Smith, Smith’s President ButcherJoseph Managing Partner Joe Strycharz commented, “We’re delighted to have been able to advise Smith Transport in a transaction that met the Company’s strategic objective to remain an independent brand operated by the same people who helped build the company and its culture. The team conducted a thorough process to identify the right buyer and negotiate terms that met the needs of the employee stakeholders involved. Like Heartland, Smith is a dynamic company driven by a commitment to excellence. We couldn’t be happier with the outcome and look forward to the continued growth and future success of both Smith and Heartland.” About Smith Transport Founded in 1982, Smith Transport, Inc. is an asset-based truckload carrier headquartered in Roaring Spring, Pennsylvania, with terminal locations in Pennsylvania, Georgia, and Indiana. Smith primarily provides dry van transportation and other specialized services in the eastern United States. Smith’s customer base includes many Fortune 500 companies including expedited transportation integrators, retailers, beverage manufacturers, and home supply companies, several of whom have been customers for over 20 years. Smith operates a fleet of approximately 850 company tractors, with an average age of less than three years, and approximately 2,000 dry van trailers. The modern fleet is not expected to require any out of cycle investment. About Heartland Express Heartland Express, Inc. is an irregular route truckload carrier based in North Liberty, Iowa, serving customers with shipping lanes throughout the United States. Heartland focuses on medium to short haul regional freight, offering shippers industry-leading on-time service so they can achieve their strategic goals for their customers. Since its initial public offering in 1986, Heartland has grown from approximately $20 million in revenue to one of North America’s largest, most profitable, and best capitalized truckload carriers. Heartland has been recognized 18 times by Forbes Magazine as one of the Top 200 Best Small Companies in America, 17 times as one of the Best Truckload Carriers in America by Logistics Management Magazine, and as one of America’s Most Trusted Companies by Newsweek Magazine in 2022. About ButcherJoseph & Co. ButcherJoseph & Co. is a boutique investment banking firm specializing in ESOPs, mergers and acquisitions, private debt & capital sourcing and valuation advisory services for middle market companies. Its industry recognized team of professionals has executed 200+ transactions exceeding $15 billion in total value. ButcherJoseph is headquartered in St. Louis with a presence in Washington, DC and offices in Chicago, Charlotte, Scottsdale, and Nashville. Advisors Scudder Law Firm, P.C., L.L.O. served as merger and acquisition transaction and legal advisor to Heartland, while Utz & Lattan, LLC served as Heartland’s special ESOP counsel. Morgan, Lewis & Bockius LLP served as transaction counsel and McGuireWoods served as special counsel to Smith. Moore & Van Allen PLLC served as counsel to the ESOP trustee.

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Spotlight

Penske is a company where people help people move ahead in business and life. We offer exciting and dynamic careers in the transportation and logistics industry. Penske is a $5.6 billion leading provider of: full-service truck leasing, contract fleet maintenance, commercial and consumer truck rental, used truck sales as well as third-party logistics, warehouse management, and innovative supply chain solutions.

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