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Corporate Restructuring

In Q4 2018, Element CEO Jay Forbes launched a three-phase transformation strategy to increase client-centricity by simplifying processes, eliminating redundancies, and automating manual work to enhance consistency of service.

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Element Strengthens Balance Sheet

Element Fleet Management Corp. recorded a profitable first quarter, as it strengthened its balance sheet with $150 million in planned benefits from its company transformation plan that was announced in October.

Workhorse to Spin Off Aviation Business

Workhorse Group announced its intention to spin off its aviation division, which includes its SureFly personal helicopter, into a separate publicly traded company named SureFly Inc. – but it will hold on to the HorseFly drone designed for parcel deliveries.

Stellar Exits Kiefer Trailer Manufacturing Business

Stellar Industries announced that it will close its Kiefer Manufacturing facility in Sneedville, Tenn., on Dec. 31, 2015, and transition its Kanawha, Iowa, operation to a Stellar company effective Jan. 1, 2016.

Toyota Announces Australian Restructuring Plan

Toyota Motor Corporation (TMC) and Toyota Motor Corporation Australia Ltd. (TMCA), its production and sales subsidiary in Australia, have announced TMCA’s new business structure for 2018 onward.