Fuel efficiency top goal for Wal-Mart
BENTONVILLLE, Ark. Wal-Mart’s fleet of about 7,200 trucks is about 15% more fuel efficient, according to reports, and the company is aware of what needs to be done to meet its goal of being 25% more fuel efficient by 2008.
Tim Yatsko, senior vp of transportation for Wal-Mart Stores Inc., reportedly said that the fleet runs at an average of about 7 miles per gallon compared to about 6 miles per gallon in 2005, allowing the company to save between $35 million and $50 million a year. He added that the company was proud with the progress it’s made so far.
According to reports, Wal-Mart’s fleet is regularly a leader in fuel efficiency, ranking among the top 10 private fleets in the United States.
Redner’s mourns death of co-founder
READING, Pa. Mary Redner, co-founder of Redner’s Markets Inc., died Saturday at Reading Hospital, where she was a patient for five days.
In 1970, she and her husband, Earl Redner, co-founded Redner’s Markets, which they operated for 20 years before retiring in 1990, when they turned the business over to their sons. After retirement, Mary remained an active member of Redner’s board of directors. Today Redner’s Markets is a regional chain of full-service grocery and convenience stores with locations throughout Eastern Pennsylvania, New York and Maryland.
PPR completes takeover of PUMA
PARIS The PPR group today announced that after the expiry of the additional acceptance period of its voluntary public takeover offer for PUMA it has become the majority shareholder with a 62.1% stake in PUMA.
Francois-Henri Pinault, chairman and ceo of PPR and chairman of the supervisory bof PUMA, stated: “We are very pleased with the final result of our offer to the PUMA shareholders who have sent a strong signal of support for the transaction. We are at the starting point of a fruitful collaboration and will now focus on implementing our long term strategic vision.”
On April 10, PPR acquired a controlling stake in PUMA and announced the launch of a friendly voluntary public takeover offer at a price of $392.86 per share. The voluntary public takeover offer to the other PUMA shareholders started on May 14 and the additional acceptance period expired on July 11.