Third-party logistics providers Hub Group and Grupo TMM of Mexico have agreed to form a joint network to manage freight moving between Canada, the United States and Mexico.
Lombard, IL-based Hub said the deal calls for TMM Logistics, a subsidiary of Mexico City-based Grupo TMM, to provide all sales support and operational execution within Mexico and Hub Group to furnish the same capabilities in Canada and the U.S.
A newly formed division of Hub Group, called Hub Mexico, will provide joint marketing, door-to-door oversight and coordination as well as pricing support, the company added.
The companies said the TMM/Hub partnership is designed to "integrate" various modes of transportation with a logistics system to offer customized cross-border transportation solutions.
The deal comes at a time when Hub is undergoing a substantial reorganization. The company announced earlier this month that it plans to cut corporate overhead and eliminate jobs through the adoption of new technology in an effort to save approximately $10 million annually beginning in 2003.