Industry News: November 2020

Catch up on the latest acquisitions, promotions and company milestones

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Volvo Group and Daimler Truck AG enter joint venture
The Volvo Group and Daimler Truck AG have a joint venture to develop, produce and commercialize fuel-cell systems for use in heavy-duty trucks as the primary focus, in addition to other applications. The ambition of both partners is to help take a step toward climate-neutral and sustainable transportation by 2050. The Volvo Group will acquire 50% of the partnership interests in Daimler Truck Fuel Cell GmbH & Co. KG for approximately $7 million on a cash and debt-free basis. Closing of the transaction is expected during the first half of 2021, subject to merger control review by relevant authorities, as well as other approvals.

Beacon Funding Celebrates 30 Years
Beacon Funding has announced it is celebrating 30 years of providing equipment financing. Since 1990, the company passion has helped thousands of businesses nationwide do their jobs by getting them equipment they need. Over the past 30 years, the staff has grown to enjoy a healthy work-life balance while earning an A+ BBB rating. Beacon Funding has dedicated itself to financing high-quality equipment by providing positive, premium customer service.

Michael Schweitzer
Michael Schweitzer

J&J Truck Bodies names sales manager
J&J Truck Bodies and Trailers, a division of Somerset Welding & Steel, announced the appointment of Michael Schweitzer as sales manager for the Mid-Atlantic Region. Schweitzer has two decades of sales experience in the truck industry.

Allen Luebbe
Allen Luebbe

Allen Luebbe rejoins Imperial Industries
Allen Luebbe has returned to Imperial Industries to handle heavy- and medium-duty truck purchasing. With more than 15 years in the industry, his career in vacuum trucks started in December of 2005 at Imperial Industries. He worked in the commercial tank division, specializing in vacuum trucks. In 2008, he moved to Mid-State Truck Service and worked closely with Imperial Industries for the past 12 years.


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