TFI “cautiously optimistic” about economy

MONTREAL, QC - Just months after acquiring a major truckload carrier in the U.S., TFI International is cautiously optimistic about the state of the North American economy. "Unemployment is low and consumer spending remains solid. Moreover, rising oil prices have given way to a modest rebound in the level of investment in that sector," said chairman, president and Chief Executive Officer Alain Bedard, when releasing year-end results. "These factors should produce a gradual recovery in freight volume and rates." Referring to 2016 as a "transformational" year for the business - which now collects half its revenue south of the border

TransForce acquires National Fast Freight

BRAMPTON, ON - TransForce International (TFII) is acquiring National Fast Freight from Calyx Transportation Group, the companies have announced. National Fast Freight is a non-asset-based company that provides Less than Truckload (LTL) intermodal service across Canada, and generated $80 million in revenue in the past year. It will continue to operate under current management as a standalone business unit. TransForce International's existing LTL intermodal operations include Clarke Transport and Vitran.

TransForce buys XPO Logistics’ TL business for US $558M

MONTREAL, QC -- TransForce has purchased XPO Logistics' truckload business for US $558 million in cash. After XPO bought Con-way Inc. a year ago, Con-way Truckload's operations appeared to many observers to be an odd fit for XPO, which bills itself as the second largest freight brokerage provider in the world. In February, the Wall Street Journal reported that after evaluating and rejecting bids from three trucking companies, XPO would instead hold onto the unit. "I think we can improve it by integrating it and bringing it lots of new customers from our other service lines," CEO Bradley Jacobs told a WSJ reporter.