newsworthy High Capacity
Spiral
Conveyors
Save space and increase
throughput with Ryson
high capacity spiral
conveyors. They are in
response to our customer’s need
to go higher and handle more
weight. They can handle double
the weight capacity of our regular
spirals and still only need one drive.
Most units ship fully assembled
saving on installation costs.
Quality and service come first at
Ryson. We are the number one
spiral manufacturer in the USA.
For application assistance or more
information, give us a call or visit
www.ryson.com.
300 Newsome Drive • Yorktown, VA 23692
Phone: (757) 898-1530 • Fax: (757) 898-1580
VERTICAL CONVEYING SOLUTIONS
Flush with $700 million in new capital
from three non-U.S. pension funds, XPO
Logistics Inc., a fast-growing broker, forwarder, and expedited transport firm,
plans to embark on a significant acquisitions spree over the next 18 months.
Greenwich, Conn.-based XPO also
raised its revenue and income targets
for 2017. XPO now plans to generate
about $9 billion in annualized revenue
by that time, up from the prior target
of $7.5 billion. In addition, it expects to
report $575 million in earnings before
interest, taxes, depreciation, and amortization (EBITDA) by 2017—up from the
$425 million projected previously. XPO
revised its targets because the company
now has significantly more liquidity to
execute accretive acquisitions, Bradley
S. Jacobs, XPO’s founder, chairman, and
CEO, said in mid-September.
The new investors are GIC, Singapore’s
fourth-largest sovereign wealth fund;
PSP Investments, a Montreal-based pen-
sion fund that invests on behalf of the
country’s civil servants and the Royal
Canadian Mounted Police, among oth-
ers; and the Ontario Teachers’ Pension
Plan, which invests for approximately
400,000 teachers in the Canadian prov-
ince. Jacobs declined to disclose the
amount of each fund’s investment.
After deducting about $10 million in
expenses, the infusion will leave XPO
with about $690 million to spend, Jacobs
said. Prior to the transactions, XPO had
about $300 million of liquidity in cash,
cash equivalents, and access to lines of
credit based on the value of certain assets.
In addition, XPO can leverage the new
investments to generate additional borrowing capabilities. In all, XPO will have
more than $1 billion available for acquisitions, according to Jacobs.
Jacobs said the “acquisition pipeline
is very active” at this time and that the
activity shows little sign of abating. XPO
is exploring opportunities across its four
main businesses (freight brokerage, expedited transportation, last-mile delivery,
and freight forwarding), Jacobs said. It
has no plans to expand into segments of
transportation and logistics that it is not
already involved in, he added. He said
that 2015 will be a busy year for XPO on
the acquisition front.
XPO gets $700 million equity infusion
Port Jersey Logistics, a third-party logistics service provider, is opening a new
facility in Cranbury, N.J., that will include nearly 450,000 square feet of food-grade warehousing space. … Ceva Logistics, a global supply chain management
company, has opened its first Center of Logistics Excellence in Europe in Ashby
de la Zouch, United Kingdom. It is also expanding its presence in the San Diego
market with a new freight management and logistics facility with 125,000
square feet of space and 23 dock doors. The company has also added a new
facility to its Los Angeles/Torrance campus that features 319,000 square feet of
warehouse space and 50,000 square feet of office space, with 50 dock loading
positions. … NFI, a supply chain company, has broken ground on a new distribution center in Oldmans Township, N.J. The facility will support the future
growth of retailer Five Below. … Gordmans Inc., a Nebraska-based apparel
and home décor retailer, celebrated the grand opening of its 545,000-square-
foot Indianapolis-area distribution center. Gordmans partnered with Fortna to
build the facility. … YRC Freight has upgraded its terminals in Memphis, Tenn.;
Houston; and Seattle to full distribution center status. … Menlo Logistics has
opened a multiclient warehouse in Ladkrabang, Thailand.
ground breakers
