kscarbel Posted July 30, 2013 Share Posted July 30, 2013 Automotive News / July 29, 2013Penske Automotive Group Inc. plans to acquire commercial vehicle distributor Western Star Trucks Australia from Transpacific Industries Group for about $200 million ($219 million Australian) in the third quarter.The transaction is expected to generate $420 million to $460 million in annual revenue for Penske.Western Star Trucks Australia distributes Western Star, Dennis Eagle and MAN medium- and heavy-duty trucks through more than 80 independent dealers in Australia, New Zealand, Indonesia, the Philippines and Papua New Guinea.The company has customers in industries including logistics, mining, construction, manufacturing, agriculture, and waste and refuse collection.Penske, of suburban Detroit, ranks No. 2 on Automotive News’ list of the top 125 dealership groups in the United States with retail sales of 180,764 new vehicles in 2012."Western Star Trucks provides us with an attractive gateway to enhance our global business profile," Penske CEO Roger Penske said in a statement. "We believe that our existing relationships with heavy- and medium-duty truck manufacturers and our experience in operating distribution and dealership-related businesses provide us with a unique opportunity to expand our business while potentially providing a steppingstone to Southeast Asian markets for other parts of our business."Penske says it holds 172 franchises in 18 states and Puerto Rico, and 160 franchises outside the United States, mostly in the United Kingdom.Penske owns one of the largest commercial truck buyers in North America, Penske Truck Leasing, which maintains more than 200,000 vehicles for customers in North America, South America, Asia and Europe, Western Star said. Quote Link to comment https://www.bigmacktrucks.com/topic/32123-penske-to-acquire-commercial-vehicle-distributor-in-australia-for-200-million/ Share on other sites More sharing options...
james j neiweem Posted July 30, 2013 Share Posted July 30, 2013 Penske you ass why did you let detroit diesel go. 2 Quote Link to comment https://www.bigmacktrucks.com/topic/32123-penske-to-acquire-commercial-vehicle-distributor-in-australia-for-200-million/#findComment-196845 Share on other sites More sharing options...
kscarbel Posted August 2, 2013 Author Share Posted August 2, 2013 Penske Wins Contract to Manage Kroger’s Indiana Distribution CenterTransport Topics / August 2, 2013Penske Logistics said it won a contract to manage Kroger’s 600,000 square foot refrigerated food distribution center in West Shelbyville, Indiana.Penske said it hired all 816 existing workers including those represented by the Teamsters.“We’ve continued to diversify our portfolio of customers over the last several years to include warehousing and distribution center operations for leading food, beverage and grocery customers in North America, Europe and Asia,” President of Penske Logistics, Marc Althen said in a statement.Penske Logistics ranks No. 30 on the Transport Topics Top 100 listing of U.S. and Canadian for-hire carriers. Quote Link to comment https://www.bigmacktrucks.com/topic/32123-penske-to-acquire-commercial-vehicle-distributor-in-australia-for-200-million/#findComment-197530 Share on other sites More sharing options...
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