01.10.2008
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| Con-way announces CFI is now officially Con-way Truckload
Con-way announces CFI is now officially Con-way Truckload 1/10/08 Quote:
SAN MATEO, Calif. and JOPLIN, Mo.—Nearly five months after Con-way completed its $750 million acquisition of truckload carrier Contract Freighters Inc. (CFI), it announced today that CFI has been officially renamed as Con-way Truckload.
Con-way said in a statement that the new Con-way Truckload is comprised of more than 2,800 tractors, 8,000 trailers, and 3,500 employees. And it added that the unit is expected to generate $500 million in annual revenues. Con-way said this addition to its service line—coupled with Con-way Freight, the company’s less-than-truckload unit, and its global third-party logistics unit, Menlo Worldwide—equips the company with transportation and logistics services, ranging from first-mile sourcing in Asia or Europe to last-mile delivery in North America.
When the acquisition was first announced in July 2007, LM reported that Con-way President and CEO Douglas W. Stotlar said the impetus for the deal originated from in the wake of the boom in West Coast imports, when Con-way found it lacked the capacity to handle shipments out of the Ports of Long Beach and Los Angeles.
| http://www.logisticsmgmt.com/article/CA6521699.html |
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