AAA Daily Fuel Gauge Report for Friday, 5/14/21

American Dollar to Canadian Dollar = 0.733185; American Dollar to Chinese Yuan = 0.138110; American Dollar to Euro = 1.085150; American Dollar to Japanese Yen = 0.006363; American Dollar to Mexican Peso = 0.058804.

Digital speed limitation for timber trucks works well on stretches with a lot of infrastructure, and haulage companies show great commitment to safer timber transports. This is demonstrated by the geofencing project that SCA has undertaken in collaboration with the Swedish Transport Administration. "We continue to utilize the technology on both existing routes and new ones," says Lars Nolander, logistics manager at SCA Skog. SCA's efforts to create safer timber transports have been ongoing for several years, and the latest initiative involves testing digital speed limitation, known as geofencing, on four selected routes in Västernorrland and Jämtland, where the road passes through villages or residential areas with houses and residents along the way. The technology involves creating zones using GPS points, where the vehicle senses when it's time to adjust the speed. Four haulage companies and nearly 40 timber trucks have been involved in the project.

Gildan Activewear is buying HanesBrands for $2.2 billion, the two companies said Wednesday. The deal consists of 87% stock and 13% cash per every HanesBrands share, with the cash portion anticipated to be about $290 million. Gildan will pay for HanesBrands through $2.3 billion in transaction financing, through bridge facility and term loans. The deal implies a $4.4 billion enterprise value for HanesBrands. Gildan CEO Glenn Chamandy said the combination will double Gildan’s revenue and create “scale that distinctly sets us apart.”