The nationwide trucker and third-party logistics provider said it hopes to raise between $281 million and $359 million with the initial public offering, and provided details on how it plans to use the proceeds.
South Korean shipyards exited the business of making cranes a decade ago because of stiff compeitition from Chinese makers.
Trucking industry executives visited the White House Thursday afternoon to talk about issues that affect their businesses.
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The port authority’s board of commissioners approved two contracts worth $217 million for 86 rail-mounted gantry cranes, with 60 of the cranes going to Norfolk International Terminals and the additional 26 cranes going to Virginia International Gateway.
The $10 million acquisition is expected to close early next year and will substantially expand the port.