ABF Freight hit with $535K penalty for clean water violations

by Talk Business & Politics staff (staff2@talkbusiness.net)

ABF Freight, the less-than-truckload (LTL) subsidiary of Fort Smith-based ArcBest, has agreed to pay a $535,000 penalty to resolve allegations that the company violated requirements of the Clean Water Act (CWA).

The settlement was detailed in a press release Monday (March 20) from the U.S. Department of Justice.

According to the release, in April 2015, ABF voluntarily disclosed to the US Environmental Protection Agency that it failed to obtain industrial stormwater permit coverage at multiple facilities. The company discovered additional areas of noncompliance with the CWA through internal compliance audits, which were conducted at nearly all its facilities during 2013 and 2014.

https://talkbusiness.net/2023/03/abf-freight-hit-with-535k-penalty-for-clean-water-violations/

ArcBest sells FleetNet in a $100 million cash deal

by Michael Tilley (mtilley@talkbusiness.net)

Fort Smith-based ArcBest announced Tuesday (Feb. 28) the sale of its FleetNet segment to Cox Automotive in a $100 million cash deal. The maintenance and repair unit of ArcBest generated 6.4% of overall revenue in 2022 and 1.5% of operating income.

Cox Automotive is a division of Atlanta-based Cox Enterprises, which also owns Cox Communications. Cox Enterprises has more than 55,000 employees and more than $20 billion in annual revenue.

“FleetNet has been a valuable part of ArcBest, giving us insight and expertise in equipment maintenance and repair. As an integrated logistics company, it is no longer core to our growth strategy,” said Judy McReynolds, ArcBest chairman, president and CEO, said in a statement. “We’ve enjoyed working with the wonderful team at FleetNet and have benefitted greatly from their innovative mindset.”

https://talkbusiness.net/2023/02/arcbest-sells-fleetnet-in-a-100-million-cash-deal/