(Reuters) - U.S. President Donald Trump issued an order on Monday prohibiting Broadcom Ltd's (AVGO.O) proposed takeover of Qualcomm Inc(QCOM.O) on grounds of national security. Qualcomm had rebuffed Broadcom's ...
From left to right: Chris Langley, VP of Fleet Relations, Hyliion; Jim Park, award committee chair; and Thomas Healy, founder and CEO, Hyliion. Photo courtesy: Jim Winsor Award committee
">A powered auxiliary axle for road tractors from Hyliion has won the 2018 Jim Winsor Memorial Technical Achievement Award, the awards committee has announced.
Called 6x4HE, the fuel-saving electric drive-axle system was selected from five finalists by an ad hoc group of industry editors writers. The award was presented during the recent Technology & Maintenance Council Annual Meeting in Atlanta, Ga.
Heavy Duty Trucking Equipment Editor Jim Park chairs the 12-member award committee and HDT Senior Editor Jack Roberts and Senior Contributing Editor Tom Berg are also members.
The award is named in honor of the late Jim Winsor, whose journalism career spanned more than 50 years in service to the trucking industry. Winsor worked his way through college by driving cargo trucks and then served in the U.S. Army as a Transportation Corps lieutenant. He was active with the Truck Maintenance Committee, forerunner to today's TMC. Winsor passed away in 2015 at age 81, about 10 years after retiring as Executive Editor of HDT.
To be eligible for the Jim Winsor Memorial Technical Achievement Award, a product or service has to show technical innovation, have a wide applicability and availability in trucking, and offer significant benefits.
The Hyliion electric axle, when added to a truck or tractor, acts as a hybrid system, capturing braking energy and converting it to electricity, then uses that energy to help launch the vehicle and propel it up hills. This relieves the engine of some of its usual work, saving fuel. It also reduces wear on service brakes.
The 6x4HE, consisting of an axle, a motor-generator, a lithium-ion battery pack, and electronic controls, can replace the second axle in a “live” ...Read the rest of this story
On a mixed day for the market, see why shares of Micron and Deckers Outdoor moved in opposite directions today.
The natural gas pipeline giant hit its leverage target, but shares have continued sinking.
Ford has revived the California Special version of the Mustang GT. One of the stars of the recent Detroit auto show was Ford's limited-run Bullitt Mustang — an homage to Steve McQueen's famous 'Stang from the 1968 film. As it turns out, 1968 was a special year for another Mustang, known as the California Special.
FTR has increased its Class 8 and trailer order forecasts as a result of increased demand for equipment caused by what the research firm calls a "capacity crisis."
FTR now projects North American Class 8 truck factory shipments for 2018 to hit 330,000 units and trailer shipments this year to hit 334,000 units.
In the past three months, truck orders have boomed to 41,500 units per month and trailer orders have averaged 46,000 units per month over the same period.
"There is a capacity crisis occurring as surging freight growth is combining with lower productivity due to ELD implementation," said FTR Vice President of Commercial Vehicles Don Ake. "Many shippers began having problems finding trucks to move goods as early as September 2017. Conditions continued to tighten and now it is a nationwide issue.”
FTR's freight models had predicted that capacity would become an issue in early 2018 and that drove its optimistic forecasts. But a stronger than expected economy has also boosted projections for the year. Barring any economic shock, FTR expects freight growth and equipment demand to remain steady going into 2019. Capacity utilization is expected to ease in late 2018, but still remain at historically high levels.
“When the economy exceeded expectations in the second half of 2017, those forecasts were increased further," said Ake. "And now with the tax reform package, the economy is generating even more freight and orders for trucks and trailers are pouring in.”
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Dana Incorporated has announced it has signed an agreement to merge with the Driveline division of global automotive system supplier GKN plc to create Dana plc, a global provider of driveline systems.
GKN Driveline is based in the United Kingdom and produces constant constant-velocity jointed driveshafts, all-wheel-drive systems, and electrified driveline solutions. The transaction also includes GKN's Off-Highway Powertrain Services business, which serves the off-highway power delivery and service market.
GKN Driveline has around 35,000 employees globally with operations in 23 countries and has 61 manufacturing locations, including one of the largest driveline businesses in China via its joint venture, Shanghai GKN Huayu Driveline Systems (known as SDS).
With sales of around $13.4 billion, the new company will become a global leader in vehicle drive systems across light vehicle, commercial, and off-highway markets.
Dana plc will also be well positioned for the vehicle electrification market with its core eDrive technology portfolio, according to the company. The deal also solidifies Dana's presence in key markets, such as China.
"This transformative and strategic transaction solidifies Dana as a world leader in vehicle drive systems and establishes a leading position in electric propulsion, which we see as the future of vehicle drivetrains," said James Kamsickas, president and CEO of Dana.
The deal includes $1.6 billion in cash proceeds to GKN plc, the assumption of approximately $1 billion of net pension liabilities, and 133 million new Dana plc shares issued to GKN's shareholders, valued at approximately $3.5 billion (based on Dana's share price as of March 8, 2018).
Under terms of the agreements, Dana shareholders will own approximately 52.75% of the company with GKN shareholders owning 47.25%. The combined company will be based in the United Kingdom as Dana plc and will continue to trade on the New York Stock Exchange under the ticker symbol DAN.
"We believe this transaction will ...Read the rest of this story
