 Third Acquisition Expands HTL Freight Offerings Into Less-than-Truckload Shipment Charlotte, NC & Lake Zurich, IL, SEPTEMBER 7, 2022 – In keeping with its vision to be a leading 3PL and freight solutions company, Charlotte-based third-party logistics brokerage, HTL Freight, has acquired Lake Zurich-based 3PL, ATTS Logistics. This transaction follows HTL’s acquisition of drayage and transload specialist Matchmaker Logistics in November 2021.
This acquisition expands HTL Freight offerings into less-than-truckload (LTL) shipments, a $40-billion-plus market annually. Founded in 1999 by Greg & Sharon Hatz in the greater Chicago area, ATTS has a proven track record and a robust service offering including partial, LTL and air. Mr. and Mrs. Hatz along with the entire ATTS team will become part of the HTL Freight family. The acquisition expands HTL Freight’s footprint across North America, allowing the company to offer additional freight solutions to shippers, while its strong network of carriers will benefit from increased asset utilization due to the expanded types of loads accepted. “This acquisition increases our capabilities, our service offerings, and gives us a presence in the robust Chicago freight market,” said HTL Freight CEO Onu Okebie. “Strategically, this positions HTL as a true one-stop shop and allows us the opportunity to fulfil our customers’ LTL needs.” “This move to be a part of the growing and dynamic team at HTL Freight creates the opportunity to do more for our customers and our employees,” jointly stated by Greg & Sharon Hatz. “We are excited to see what the future holds under the HTL Freight umbrella.” HTL Freight’s state-of-the-art technology platform matched by its people’s deep shipping industry experience remains the company’s success factor. “We are impressed by the business that Greg and Sharon have built, and the high quality of client relationships the ATTS team have nurtured. We plan to introduce workflow efficiencies and reporting through our state-of-the-art technology platform, which will strengthen those relationships even more,” says HTL Freight CFO Brian Boland. About HTL Freight: Founded in 1983, HTL Freight, formerly known as Heritage Trucking, provides a differentiated logistics experience for shippers and carriers by providing a technology-driven and customer-centric service that is responsive, responsible, and reliable. With service and technology being the pillars of our success, our purpose is to simplify transportation by providing transparency and visibility across the supply chain. HTL Freight’s customers range from small shippers to Fortune 100 manufacturers. For more information, please visit htlfreight.com. Contact: Onu Okebie, CEO Email: onu@htlfreight.com Brian Boland, CFO Email: brian@htlfreight.com  Shipping rates from China to the U.S. neared all-time highs this week – the shipping cost for a 40-foot container from Shanghai to LA is close to $10,000—representing a 229% increase from one year ago. Globally, a composite index of 8 major trade routes saw a 333% increase from one year ago. Rates are expected to increase.
These higher rates, while beneficial for container shipping lines, are putting pressure on importers in terms of higher costs. Higher costs uneasily absorbed by importers will likely be reflected in higher retail prices, which could result in inflation. Additionally, supply chain constraints due to COVID still hinder economic growth. Interested in learning more? Read the full article on American Journal of Transportation here.  At 12:01 AM Eastern time Friday, the United States plans to increase tariffs from 10% to 25% on Chinese imports. Trump and Beijing plan to talk prior to the tariff hike sometime today. China has stated they will retaliate if the tariff hike goes through.
If the tariff increase goes through, both the U.S. and China's imports and exports will likely be affected by both the tariff hike and retaliatory measures that may be taken on either side. Read more here.  ATTS Logistics is proud to announce that we warehoused and transported 50,639 books to in-need communities in Big Ugly, West Virginia. We partnered with Lake Zurich, IL, residents, Shari and Vince Gullo, and West Virginia nonprofit, Step by Step, to ship books to this rural area. The Gullos organized a book drive and collected over 50,000 books with support from Lake Zurich-area residents over the past six months.
The children in Big Ugly, West Virginia have limited access to reading materials, and the nearest library is over 40 miles away. The Gullos have visited the area multiple times over the last few years and wanted to support literacy, access to reading materials, and the love for books within the Big Ugly community. We are so happy to help play a part in this generous endeavor and cannot wait for the children of Big Ugly to experience the beauty of literature!  If Donald Trump wants his new US-Mexico-Canada Trade Agreement to be enacted, he may have to lift the aluminum and steel tariffs imposed on Mexico and Canada. The nations, along with US lawmakers, are pushing Trump to eliminate the tariffs if he wants the agreement to be approved.
Find out more details here. |
We are attsProven freight brokers helping shippers and purchasing professionals navigate the complicated world of shipping. Archives
September 2022
Categories
All
|
RSS Feed
