Supervalu to sell logistic control unit to Ryder System
New York City — Supervalu has reached an agreement to sell its Total Logistic Control subsidiary to Ryder System for an undisclosed amount.
The subsidiary provides logistics and supply chain management solutions to manage distribution, warehouse and transportation operations for food, drink and packaged-goods companies.
Ryder, the buyer, said it expects the acquisition to add about $250 million in annual revenue to its supply chain solutions business segment. Ryder said it expects the deal to help its bottom line in 2011, excluding transaction costs. The sale, subject to closing conditions and regulatory approvals, is expected to close on Dec. 31.
New Edge Networks to become EarthLink Business
Atlanta — EarthLink announced that it has completed its acquisition of ITC DeltaCom, a leading provider of integrated communications services to customers in the southeastern United States, in a transaction valued at approximately $524 million.
With the close of the transaction EarthLink will begin integrating its New Edge Networks and EarthLink Business Services operations with Deltacom and will market the combined services under the ‘EarthLink Business’ brand name.
"With the addition of Deltacom’s deep fiber assets and strong customer relationships, EarthLink is creating a leading IP infrastructure and services company. We are pleased to have gained the regulatory approvals required to close this transaction in just ten weeks," said EarthLink chairman and CEO Rolla P. Huff. "Our new EarthLink Business division will offer a full complement of voice, data, mobile, and equipment services over a nationwide IP network with regional fiber density and favorable economics for any customer that has concentration in the Southeast region."
Target outlines sustainability goals
MINNEAPOLIS – Target announced its commitment to sustainability and outlined goals it hopes to achieve over the next five years. Target’s commitments to environmental sustainability, along with more on Target’s sustainability efforts, are available at hereforgood.target.com/environment, the company reported.
"Target has long invested in the health and sustainability of our communities by integrating rigorous programs throughout our business that reduce our environmental impact," said Gregg Steinhafel, chairman, president and chief executive officer, Target. "We believe the commitments announced today will guide our ongoing efforts to further engage Target suppliers, team members and guests in our sustainability initiatives."
Specifically, by 2016, Target said it aims to achieve the following milestones for resource use, waste elimination and carbon footprint reduction:
Reduce the percentage of operating waste sent to landfills by 15%;
Reduce water usage by 10% per square foot;
Reduce greenhouse gas emissions by 10% per square foot and 20% per dollar of retail sales;
Earn the Energy Star label from the Environmental Protection Agency for at least 75% of its buildings;