BAX Global Inc. will close down its air hub at the Toledo Express Airport in Toledo, Ohio, affecting 700 employees. The Company said that the closing is due to the phasing out its dedicated air fleet in the United States. Bax Global will be switching its business model from operating its own air fleet to a non fixed-base model.
DB Schenker, the parent company of Bax Global, said in a press release that the plant closing is due to "changing marketplace conditions and along with the renewed focus on transportation management services is aimed at positioning the company for continued growth and success."
BAX Global is an international shipping company that is headquartered in Irvine, Calif., and has other major offices in Australia, Singapore, London, the Netherlands and Toledo, Ohio. The company which was founded in 1971 also operates an airline. After having been acquired by DB Logistics in January 2006, Bax Global is currently being integrated with Schenker, the land, sea, and air freight branch of DB Logistics. DB Logistics is the freight and logistics division of Deutsche Bahn, the German railway company.
Information is provided by the Plant Prospector. For more information on the product, follow this link http://bankrupt.com/periodicals/pp.html.
The Plant Prospector is a weekly e-mail service that identifies national, regional, and local plants and businesses in transition through layoffs, closings, and work force reductions. A reduction in the number of employees is an indication of a current or imminent change in the operations of an enterprise and is invaluable in identifying companies including private firms, small public companies, and subsidiaries of major corporations that are in flux. Plant Prospector is an ideal prospecting tool for firms that provide services to businesses in transition, such as temporary employment agencies and outplacement firms, and for companies whose business may be affected by change, such as suppliers, professional firms, and insurance companies.
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