(Emma Cosgrove – Supply Chain Dive)
Canadian National Railway Company acquired Manitoba-based trucking company TransX for an undisclosed sum, according to press releases from both parties. The two freight companies struck a deal in October and confirmed completion last week, having apparently made it through the regulatory hurdles.
TransX is one of the oldest trucking companies in Canada and has been partnering with CN for many years, according to CN’s release. With this deal, CN will gain 1,500 trucks, 4,000 trailers, 1,000 intermodal containers and chassis, 12 terminals spanning western and eastern Canada, Chicago and Eagan, Minnesota and 3,000 employees, according to FreightWaves.
“What TransX is, is a company who is in the intermodal business and we believe they can help us to bring more business to the CN railroad using our network. In that case, specifically Halifax to Vancouver, to divert traffic from the road to railroad,” CN CEO JJ Ruest said on the railroad’s January earnings call. TransX will remain in Winnipeg, Manitoba, and continue to function independently, according to the trucking company’s release. Click here to read more.