b'FEBRUARY 22 - MARCH 7, 2021NORTH AMERICAS TRANSPORTATION & LOGISTICS NEWSPA PER 19I NtErmodal& l ogIStIcSN EWSThe JZ Expedited Companies joinSF Holding to take over Kerry Logistics RoadOne IntermodaLogistics for $2.3 billionRoadOneIntermodaLogis- house in North Jacksonville and tics, a single source intermodal,develop45additionalacresofSFHoldingCo.,oneofpast 12 months, helping it sur- KerryLogisticsoffersair distribution,andlogisticsser- yard space at this location. ThethelargestChinesepackage- pass FedEx Corp. in value andfreight, trucking and ocean cargo vicescompany,announcedthecompanyislookingtoengagedelivery services, is seeking togiving it a market capitalizationservices as well as customs bro-acquisition of The JZ Expeditedwithautomotiveandheavyacquire control of tycoon Robertof about $75 billion. kerage and cross-border logistics Companies headquartered in Jack- equipment companies interestedKuoksKerryLogisticsNet- TheChinesegroupownsfore-commercecompanies.Its sonville,Florida.Thisadditionin strategic business expansionwork Ltd. in a HK$17.6 billioncourierserviceSFExpress,clientsincludefashionbrands, willaugmentRoadOnesinter- in Jacksonville. ($2.3 billion) deal. whichhasbenefittedfromthefoodandbeveragedistributors, modallogisticscapacitywithinI am thrilled to join Road- TheChinesecourierplansrise in online shopping in Chinaconsumer goods companies, elec-Florida and serve as an extensionOne, a well-established, premiereto buy a 51.8% stake in HongfueledbycompanieslikeAli- tronicsmanufacturersandother of the companys national trans- nationalintermodaldrayageandKong-listedKerryLogisticsatbabaGroupHoldingLtd.andcompanies throughout the region.loadandwarehousingnetwork.logisticscompanyandlookfor- HK18.8 per share, according toJD.com Inc. In 2019, SF Hold- JPMorganChase&Co. JZs full scope of services include:wardtoworkingcloselywithajointstatementtotheHongingcompletedtheacquisitionisthefinancialadvisertoSF drayage,transload,oversizedcompany founders, Ken KellawayKongstockexchange.Bloom- of Deutsche Post DHL GroupsHolding, while the Kerry Group transportation, domestic LTL ser- and David McLaughlin. Together,bergNewsreportedthatSFsupply chain assets in China forcompanieshaveCitigroupInc. vices, import and export logisticswe will grow and strengthen JZIsHolding was exploring a poten- 5.5 billion yuan ($855 million). as their financial adviser.and container depot and Foreign- service capabilities, said Roberttial investment in the company.Trade Zone (FTZ) capabilities. Fox,SeniorVicePresidentofKerryLogisticsalsoplans TheJZcompanieswillbeOperations at JZI. to sell some warehouse assets forHegelmann Group plans representedbytwoRoadOneIm extremely pleased to haveHK$13.5 billion and its Taiwan brandedbusinessunits:JZIJZI join RoadOne to strengthenbusinessforNT$4.5billion IntermodaLogistics,whichwillthe services we offer our custom- ($161 million) to its parent com- expansion into the USinclude the former JZ Expediteders in the important Florida tradepany, the statement said. Kerry Trucking,andNorthFloridaregion. Shippers require greaterLogistics proposes a special div- Hegelmann Group expandsinto the USA at the end of 2019. Warehouse FTZ, and JZI Logis- supplychainefficiency,agilityidend of HK$7.28 per share con- into the USA. The internationalWewanttobecomeaglobal ticsSolutions which will be com- and flexibility in markets todayditional on the completion of thetransportandlogisticscom- organization that offers its ser-prised of JZ Expedited Logisticsand were committed to havingwarehousessale.Shareholderspany is launching its operationvicesontheEuropean,North andJZIGlobalSupplyChainthe resources and service capabil- who accept the SFs offer willinNorthAmericaasHegel- American and Asian continents. Management. ities to deliver on these require- receive HK$26.08 including themann USA. Based in Chicago,We believe that by working hard In early January, JZI announcedments, said Ken Kellaway, CEOspecialdividend,representingthe company will start offeringand honestly we can become a that it plans to expand its ware- of RoadOne IntermodaLogistics. an 11% premium to the last clos- transportandlogisticsservicessuccessful, ambitious and grow-ing price. at the beginning of the new year,ing player in the US and North Kuok,whoisMalaysiasin January 2021. An investmentAmericanmarket,explains richestperson,controlsKerryofaroundtenmillioneurosisAndrew Jasinskas, who as Head Five hybrid Konecranes RTGsLogisticsthroughhisfamilyplannedwithinthefirstthreeof Business Development of the holdingcompanyKerryGroupyears to kickstart the growth ofHegelmann Group is responsible ordered by Norfolk Southern anditsHongKong-listedrealthenewUS-basedsubsidiary.for the US expansion.estate arm Kerry Properties Ltd.TheHegelmannGroupalsoHegelmannalreadyhas Norfolk Southern Corpora- tworailsplusonetrucklane.SF Holding will offer cash forplans to expand its reach in theconnectionstotheUSmarket. tion has ordered five KonecranesThethreeRTGsgoingtothetheKerryLogisticsstakeandfuturetowardsadditionalpartsWe already offer logistics ser-hybrid RTGs. Two will go to theInman Yard will stack contain- plans to keep the company listedofNorthAmerica,aswellasvices for our American partners Landers Yard intermodal termi- ers 1-over-3, working over onein Hong Kong. After the transac- towardsCentral America. WithinEuropeandaretherefore nalinChicago,andthreewillrail and two truck lanes. tion, Kerry Propertiess holdingeyes already set on the Canadianalreadywellnetworkedand go to the Inman Yard intermodalHybridKonecranesRTGsin the logistics firm will be cutmarket, the international growthknown to them, says Jasinskas. terminalin Atlanta. Thisorderareoperatedwithelectricalto about 20% from 40%. is expected to continue. Thecompanyplanstoinvest was booked in December 2020,powerfromthebatteryandThe deal will help SF Hold- Inthefirstyear,atleastaround two million euros in stra-and the cranes will be delivereddiesel generator. During normalingboostitsdistributionnet- 15newjobsopportunitiesaretegicgrowthandoperationsin in December 2021. use, power is drawn exclusivelywork and supply-chain servicesexpectedtobecreatedinthethefirstyearofitsexpansion. The five RTGs on order willfromthebattery.DuringpeakasitgainsafootprintacrossUSA.ThefleetwillinitiallyAnother eight million euros are work intermodal rail tracks eco- use,powerisdrawnfromtheAsia.KerryLogisticswouldconsist of ten trucks. At a laterto follow in the second and third efficiently thanks to their hybridbatteryanddieselgeneratorinbecometheChinesecouriersstage, the intention is to expandyear. Planned purchases include drives. Hybrid Konecranes RTGsparallel. Energy from braking isprimary vehicle for internationalthe fleet with LNG- or electric- Dry Van trailers, thermal trail-are becoming popular in the US;saved and used to recharge theexpansion. SF Holdings sharesity-poweredtrucks.Wehaders, platforms, silos and car car-a number of major US containerbattery.AllfivehybridRTGshave more than doubled over thealreadyconsideredexpandingrier trailers. terminals are operating them withwillbeequippedwithKone-a high degree of satisfaction. cranes Auto-Steering smart fea-The two RTGs going to theture, which keeps the RTG on a LandersYardwillstackcon- pre-programmed,straightpath,Daimler to split trucks unit from carstainers1-over-3,workingovereasing the work of the operator. Daimler AG plans to split up into the worldsimprove returns to justify that valuation, Deutsche largest makers of luxury cars and commercial vehi- Bank analysts wrote in a January report. Bernsteins (CTTPPcontinued fromalternative to the state capitalismcles, renaming itself Mercedes-Benz and separatelyestimate is even higher at 35 billion euros.page 16) model offered by China. listing its truck unit by year-end. Volvo issued a bullish outlook for the global technologicalprotectionmea- JoiningtheCPTPPcouldThe plan to distribute a majority of Daimlertruckmarketwithinitsreportofbetter-than-sures (TPMs) and longer periodsprovideanalternativetonego- Truck to shareholders is the most significant shake- expected quarterly earnings. Transport and construc-formedicalpatentsandcopy- tiating a separate bilateral tradeup Ola Kallenius has made since taking over thetion activity has fully recovered in most markets and rightprotection.Evenwithoutdeal with the United Kingdom.top job at the German giant almost two years ago.improvedcustomerconfidence,accordingtothe those,theCPTPPsIPchapterThe UKs Prime Minister BorisBloomberg News reported earlier that Daimler wascompany. It raised its forecast for heavy-duty vehi-representstheworldsmostJohnsonrecentlyfloatedtheconsidering the listing. cle sales in Europe and North America this year by a advancedtradestandardsonnotionoftheUKjoiningtheThespinoffwillappeaseinvestorswholongcombined 90,000 units.intellectualproperty,providingCPTPP. Former Japanese Primeadvocatedforthemove,citingastubbornlylowThe results raise the bar for Daimler Truck, which substantial protection to compa- Minister Shinzo Abe is on recordvaluationforthegroupcompany.WhileDaimlerhas long trailed its Swedish rival in terms of profit-nies from having their innova- at the time as saying his countryrecently tweaked its corporate structure to give moreability. Volvos operating margin of almost 13% is tionsstolenwhenoperatinginwould welcome the UK into theindependence to its main divisions, it was viewed asthe highest the company has ever reached in recent other countries. group, perhaps a positive omena half measure and did little to boost sentiment. memory, RBC analyst Tom Narayan said in a note.Among the provisions thatshould the U.S. seek to rejoin. TheoutcomeisextremelypositiveforallDaimlerofficialspreviouslybalkedatsell-remainintheCPTPP,many,Aboveall,unlessanduntilshareholders and were convinced that this is also ining individual divisions in the past but had kept such as those addressing state- theU.S.joinstheCPTPP,U.S.the best interest of all employees at Daimler, San- the door open to a partial listing of the trucks unit. owned enterprises, digital trade,manufacturing,agricultural,andford C. Bernstein analyst Arndt Ellinghorst said in anGerman rival Volkswagen AG pushed through an andlabor,werealsobasedonservices exporters will not enjoyemail. Its also a strong positive statement for theIPO of its truck operation Traton SE in 2019, and U.S.proposals.Theserules,the tariff cuts that others in theGerman corporate landscape and financial market. the business now has a market value of almost 12 wroteWendyCutler,aformergroupnowhaveandwillcon- Daimlers truck unit could be worth about 29 bil- billioneuros. Tratonagreedlastyeartoacquire USTRnegotiator,inanarticletinue to operate at a disadvantagelion euros ($35 billion) if valued at multiples similarNavistar International Corp. to challenge Daimler in Axios, provide an importantin the 11 Asia-Pacific markets. to Volvo AB, although it would need to substantiallyand Volvo in North America.'