CN buys TransX
MONTREAL, Que. — CN announced today it has reached an agreement to acquire Winnipeg’s TransX Group of Companies. 
“This strategic acquisition allows CN to deepen its supply chain focus, strengthening our exceptional franchise, including our intermodal business, notably the specialized, fast-growing refrigerated segment,” said JJ Ruest, president and chief executive officer of CN. “TransX has a 55-year history of providing innovative customer solutions in an industry that continues to evolve.
“This alignment creates a solid framework to serve a growing consumer economy with transportation options that bring more supply chain flexibility to our customers,” Ruest added.
Mike Jones, chief operating officer at TransX added: “CN’s acquisition solidifies our future as an industry-leading intermodal services provider in North America. We look forward to working with the CN team, which will allow us to continue building long-term customer confidence.”
TransX will continue to be based in Winnipeg and will operate independently.
“We thank Louie Tolaini, president and founder of The TransX Group of Companies, and his family for entrusting us with the reputation they built over the last six decades,” said Keith Reardon, CN’s senior vice-president of consumer products and supply chain growth. “CN has worked along side TransX for many years as a supply chain partner and we know the emphasis they place on the customer’s experience and on their commitment to safety. Understanding each other’s culture makes the opportunities of this acquisition exciting, and wide ranging.”
The terms of the deal were not disclosed and the acquisition is subject to regulatory review by Competition Bureau Canada and Canada’s Ministry of Transportation.
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i hope so CN more boost up because cn buyout well established trankx trucking businesses, and public waiting to better results /services .
thanks
good luck
Lou deserves a lot of Credit from his humble beginnings in the Virden, Manitoba area.
Happy full time retirement Lou.
A big move for both companies.
Good luck with the new venture.
I wonder how long it will take the CN to run Transx into the ground like they did years ago with other transport companies they bought.
Here we go again………………..there must be many drivers and transport people who remember CN buying Husband and Toronto Peterborugh and Hoar etc. and CP acquiring Smith Transport and Strathdee etc. etc…….. and others I can’t remember ………but many trucking companies were acquired by the rail companies for much the same reason we are mentioning here. Not sure where that led other than the ultimate end of those companies including the mightiest of them all, Smith Transport. Are we headed the same direction once again ?