It took some convincing to get large companies to pay attention to Hub at first, basically because they were unfamiliar with the advantages of intermodal shipping. 2) Working more closely with Comtrak will improve the overall quality of Hub’s intermodal product. Hub Group (NASDAQ: HUBG) is a supply chain solutions company in North America, providing transportation and logistics management solutions across numerous industries. The joint venture was christened HLX. Hub Group grew enormously in the 1990s, expanding into new markets and increasing its sales by hefty percentages year after year. After a year in business, the Highway Services division brought in over $17 million. Hub Group's wholly-owned subsidiary, Hub Group Trucking (formerly Comtrak Logistics), is one of the largest intermodal drayage carriers in the United States, with nearly 2,650 drivers and 25 terminals servicing both the domestic and international markets. By the late 1980s, Hub began to diversify into several focused operating divisions. Oak Brook, Ill.-based freight freight transportation services provider Hub Group Inc. said yesterday its subsidiary, Hub Group Trucking Inc., has entered into an agreement to acquire Estenson Logistics LLC, a Mesa, Az.-based provider of dedicated freight transportation services, for … This coordinated the company's over-the-road trucking services. Delaware. Hub took this message to Fortune 500 companies, and eventually managed to get some big accounts. A Hoovers subscription is your VIP access to key information. All Rights Reserved. The Company believes in conducting its operations honestly and ethically and expects its Employees at the parent company, Hub Group, earn $55,808 whereas employees at Hub City Terminals earn $47,399, on average. The company went public in 1996 and is traded on the NASDAQ exchange. Hub City Terminals. Meanwhile, the company endeavored to improve its efficiency in its intermodal business. In its first year, Hub City moved 900 trailers, a modest success. He also noted that it was exactly the kind of acquisition Hub had been patiently awaiting: a strong operating and sales organization that compliments Hub’s core competencies. Hub Group’s wholly-owned subsidiary, Hub Group Trucking (formerly Comtrak Logistics), is one of the largest intermodal drayage carriers in the United States, with nearly 2,650 drivers and 25 terminals servicing both the domestic and international markets. Hub also acquired American President Distribution Services in 1996, the international intermodal business division of a major shipping company, American President Companies Ltd. Hub paid $8 million for American President's division, giving Hub access to 25 international accounts. Its shares started out at $14, and a year later had zoomed up to over $27. HGDS offered door-to-door distribution of shipments for its clients. Hub Group offers Web-based pricing options. Sign up today to receive our FREE, weekly email newsletter! Eventually Highway Services was operated out of a central office in Overland, Kansas. Hub Group acquired Dallas-based Mode in April 2011, when it acquired asset-light transportation company Exel Transportation Services (ETS), a subsidiary of Deutsche Post World Net, for $83 million. See insights on Hub Group including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Hub did little business with automakers previously, but it saw the car market as a viable opportunity. Hub Group, Inc. is America's leading intermodal transportation company. “We are excited about joining forces with York and the support they will provide as we execute our growth plan,” he said. By the early 1990s, Fortune 500 accounts made up about 35 percent of Hub's total business, and it was one of the fastest-growing segments of the company. The company also made a significant investment in information technology in1990. Hub Group operates a wholly owned subsidiary, Comtrak Logistics, which provides a variety of drayage and truckload solutions. Yeager's Hub City Terminal opened in April 1971, operating out of a cramped office in a side street in Hinsdale. 4 Hub gained management of over 2000 railroad containers, with a provision to add up to 1,000 more over the next year. Its another subsidiary, UNYSON Logistics, offers a range of railcar and pharmaceutical transportation services. $33k. Hub Group became increasingly attractive to large corporate customers as the company grew prominent in the early 1990s. Another Hub division specializes in providing transportation services to the automotive industry. Principal Divisions: Intermodal Shipping; Highway Brokerage; Supply Chain Solutions. It began handling shipping needs of online retailers, especially in fulfilling bulky and heavy orders for such items as furniture and exercise equipment. "Mode has an excellent management team, with a strong, solid agent base and loyal customers,” said David Yeager, Hub Group Chairman and Chief Executive Officer, in a statement. Hub Group operates a subsidiary company, Hub Group Distribution Services, that offers clients an array of logistics services, coordinating transportation, warehousing, inventory management, set-up and assembly of products and displays, and other services, to businesses nationwide. Hub Group was founded in 1971 by Phillip Yeager. Hub Group was the first intermodal shipping agent to install an EDI system, and its technological prowess allowed the company to expand rapidly in the 1990s. The company owns two subsidiaries: Mode Transportation ; and Hub Group Trucking, which provides intermodal freight transport and drayage services. Hooking the Fortune 500 accounts spurred Hub to rapid growth. Key coverage. Hub spent $63 million on drayage in 2005. Hub specializes in alleviating shippers' difficulties in coordinating different transport services. And it added that proceeds from this sale will go towards acquisitions of businesses in both new and existing service lines, with Hub saying it is focused on acquiring high quality businesses that will deepen its relationships with its customers, strengthen its platform for growth and create shareholder value. The company’s 2014 plans include adding approximately 2,000 containers, bringing its total fleet to 28,000, and adding 400 drivers to its drayage fleet. Similar Companies. Sales for fiscal 1999 were $1.3 billion, an increase of almost 15 percent over the previous year. Hub's services made it easier for big companies to handle the railroads, which in Yeager's account were not well-equipped to coordinate transport between truck and rail. Hub Group, Inc. Code of Business Conduct and Ethics For Directors, Officers and Employees ... of the fundamental principles that govern how Hub and its subsidiaries conduct themselves in the marketplace. Hub Group is a supply chain management company that offers multi-modal freight services including arranging transportation by truck, rail, and more recently, by ship. Yeager explained that 'Many people had felt that intermodal was an inferior product and had to be sold at a discount. As a publicly traded company with over $3.7 billion in revenue, Hub Group is backed by an asset-owned network of 41,500 53’ intermodal containers, 4,000 drivers, 5,500 units of trailing capacity and 29 terminals. Principal Competitors: Landstar System; Exel Logistics Ltd. Hub also brokers highway transportation through a wide variety of carriers. Hub used its data interchange system to manage one of its largest accounts, the logistics arm of the giant retailer Sears. The sales figure, Hub said, is equivalent to 10x Mode’s adjusted EBITDA for the 12 months ended June 30, 2018. Clorox was looking for measures that would help it cut costs, and bargained that signing on with Hub would save it hundreds of thousands of dollars over the coming few years. 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Mode President Jim Damman said that Mode is an exceptional agent-based transportation solutions provider differentiated by customer-specific expertise, offerings across all modes of freight transportation and leading edge technology and analytics. Hub Group (NASDAQ: HUBG) is a transportation management company that provides multi-modal solutions throughout North America, including intermodal, truck brokerage and logistics services. The Hub Group provides international shipping expertise through a subsidiary, HLX. Yeager convinced major companies that they saved money and hassle by employing a third-party agent. ESSENTIAL JOB FUNCTIONS: Understand current regulatory requirements and proactively manage Hub's existing processes to maintain compliance with those requirements As the U.S. auto industry moved toward so-called just-in-time inventory management, it turned to third parties for logistics expertise. Because of Hub's state-of-the-art data management capabilities, it was able to offer sophisticated services to some of the nation's biggest companies. Hub Group creates innovative, end-to-end supply chain solutions tailored to your unique business needs. The fact is that it is just as good as truck, or even better in some lanes.' Freight transportation services provider Hub Group announced late last week it entered into a definitive agreement to sell Mode Transportation, a subsidiary company, to an affiliate of global private investment firm, York Capital Management, for roughly $238.5 million. Yeager was a longtime employee of the Penn Central Railroad. Highway Services grew to broker trucking services using a pool of over 3,000 carriers. "With Hub Highway’s and Unyson’s domestic transportation management businesses growing well and Hub’s market-leading intermodal offering, Mode had become an operational duplicate which was not needed strategically," he said. Hub Group Trucking, Inc. is located in Oak Brook, IL, United States and is part of the Specialty Trucking Industry. By 1997 Hub offered a full array of logistics services, and arranged for air freight, international shipping, highway trucking, and comprehensive intermodal transportation services. Hub Group, subsidiary of Just Group Dec 2019 - Present 1 year 4 months. Hub Group is a $3 billion asset light freight transportation management company providing comprehensive intermodal, truck brokerage and logistics services. It began operating a premium intermodal service division called Bantam, providing premium service between Chicago and Los Angeles. But it was more than the small family business Yeager had at first envisioned. Before Hub instituted this system, less than 25 percent of its carriers were reloaded. JURISDICTION OF INCORPORATION/ORGANIZATION . Hub also owns and operates the subsidiary Hub Group Trucking Inc., formerly Comtrak, which handles approximately 70 percent of Hub’s drayage needs. Public Company in the Late 1990s and Beyond. Hub gained a major new client in 1993 when the giant detergent company Clorox Co. agreed to let Hub handle all its intermodal shipping for its cleaning products division. Soon after, Hub announced it was forming a joint venture with the Norton Lilly International Shipping Agency to move cargo over land for ocean carriers. In the early 1990s Hub also provided logistics services to major food makers Kraft General Foods and Nestlé, and close to 40 percent of Hub's clients were Fortune 500 companies. Hub subsequently re-named Exel as Mode Transportation. Yeager and his wife ran the business with only a few employees. Hub Group continued to boom in both sales and profits. Productive workers could make a lot of money on top of the base salary. Hub Group was founded in 1971 and grew rapidly, finding itself on a list of the 500 fastest-growing companies regularly since the mid-1990s. $67k. The third-party agent managed the movement of a load of goods from its origin to its destination, plotting the best and cheapest route and arranging for the pick-up and transfer of goods between rail and truck. UC HUB GROUP, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE MONTHS ENDED APRIL 30, 2007 AND 2006 (UNAUDITED) NOTE 1 - BASIS OF PRESENTATION The unaudited consolidated financial statements have been prepared by UC HUB Group, Inc. (the "Company"), in accordance with generally accepted accounting principles … In November 2018, CaseStack announced it was being acquired as a division of Hub Group, a transportation management company. As the company grew, and took on more and more distinguished clients, it targeted new markets. Subsidiaries to Hub Group include Hub City Terminals. He spent over ten years working with shippers, coordinating intermodal transportation between rail cars and trucks. Founder Philip Yeager and his son David are instrumental in managing the publicly owned company, and the Yeager family still controls a majority of Hub Group's stock.
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