CN Rail buying trucking company TransX, terms of the deal not disclosed

CN Rail buying trucking company TransX, terms of the deal not disclosed
Share this article

MONTREAL — Canadian National Railway Co. has signed a deal to acquire the Winnipeg-based TransX Group of Companies.

Financial terms of the deal for the privately owned trucking firm were not disclosed.

CN chief executive JJ Ruest says the deal will help strengthen the company’s intermodal business, notably the refrigerated segment.

The companies say TransX will continue to be based in Winnipeg and will operate independently.

TransX was founded in 1963 and has 3,000 employees.

The acquisition is subject to review by the Competition Bureau and Ministry of Transportation.

Companies in this story: (TSX:CNR)

The Canadian Press

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.