Union Pacific Unit to Track Auto Shipments
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Union Pacific Corp. formed a subsidiary to track auto shipments for DaimlerChrysler’s U.S. unit via the Internet, seeking to cut Chrysler’s delivery time by 30% and save $280 million over six years.
The owner of the nation’s largest railroad said its newly formed Insight Network Logistics in its first year will work to shave three days from the average 12-day delivery time between factories and dealerships. The new unit, based in the Detroit area, is scheduled to begin operations in the fourth quarter.
Other U.S. auto makers also have shifted vehicle delivery management to outside vendors.
Union Pacific shares fell 7 cents to $53.69, while Daimler rose 43 cents to $49.30, both on the NYSE.
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