EGL's largest shareholder, the company'sfounder and chief executiveofficer James Crane, along with privateequity company, General Atlantic, havesubmitted a proposal to acquire all ofthe outstanding equity interests of EGLfor $36 per share in cash. Crane is Houston-based EGL'sbiggest shareholder, with 18 percent.EGL's board of directors has formeda Special Committee of independentdirectors to review and evaluate theproposal. However, the company hasmade it clear that no decision has beentaken … [Read more...] about EGL's CEO bids to acquire the company
Latest News
DHL bags Saudi Aramco's contract
DHL Supply Chain, the logisticsspecialist at Deutsche Post World Net,has concluded a 10-year multi-milliondollarcontract with the world's numberone crude oil producer, Saudi Aramco.DHL has been contracted to developthe oil giant's national logistics infrastructure.This includes the provision,management and operation of fourmaterial distribution centres (MDC) inDammam, Riyadh, Jeddah and Yanbu,of a fleet of vehicles and personnelas well as 14 material service centres(MSC). To implement these … [Read more...] about DHL bags Saudi Aramco's contract
EMA's 2006 freight up by 4.7%
East Midlands Airport (EMA) hasreported that its total freight includingtransit cargo was 300,291 tonnes in2006, up 4.7 percent year-on-year - thefirst time ever that EMA's throughputhas exceeded 300,000 tonnes in a year.Bill Blanchard, cargo developmentmanager of East Midlands Airport,Nottingham, said it was also anotherexceptional year for cargo charters withnearly 500 ad-hoc movements including164 by AN-124 and the second visitto EMA of the AN-225. In terms of pure freight, EMA saidit … [Read more...] about EMA's 2006 freight up by 4.7%
TAP adopts Kale's CSP
TAP Portugal, the national airline ofPortugal, and Kale Consultants (Kale),the India-based provider of softwaresolutions and outsourced services tothe travel and transportation industry,have signed a contract to implementKale's fully integrated enterprise-widecargo solution, known as CSP™. CSP™ has been designed to meet theend-to-end needs of cargo carriers of allsizes. With CSP™, TAP Portugal willhave a flexible and integrated system,which will provide a comprehensiveset of … [Read more...] about TAP adopts Kale's CSP
MAE to convert 87 757's for FedEx.
ST Mobile Aerospace Engineering(MAE), the US subsidiary of Singapore-based ST Technologies Aerospace,has signed a massive Passenger-To-Freighter (PTF) conversion contractof 87 B757-200s with FedEx Express.Commencing in 2007, the contract isfor 87 aircraft. The contract follows last year's decisionby FedEx to acquire around 90of this type to replace its ageing Boeing727-200 fleet. ST Aero presidentTay Kok Khiang put the value of thecontract at $450-$470 million over theseven-year life of the … [Read more...] about MAE to convert 87 757's for FedEx.
Menzies buys Gearey's Aircraft Services
Menzies Aviation has acquiredGearey's Aircraft Services, a providerof cargo handling services at CalgaryInternational Airport. The private-held family business beganoperations in warehouse handlingalmost ten years ago. Their major customers are Westjet,America West and Continental, togetherwith Air North Yukon AirlinesFCS truck dock facilitates quick transfer of aircraft pallets and ULDs.and Central Mountain Air. This acquisition is in line with Menzies'plans for strategic expansion, … [Read more...] about Menzies buys Gearey's Aircraft Services