TFI International selling a big piece
TFI International, a Canadian transport and logistics group that is also operates in USA and Mexico, has decided to sell CFI’s truckload and Mexican non-asset logistics businesses to Heartland Express. The price was USD 525.0 million, subject to customary closing adjustments and regulatory approvals.
The related businesses currently provide truckload service offerings, including dry-van truckload, long-haul, short-haul freight and reefer transportation as well as Mexico-based non-asset logistics services. 2,000 tractors, 7,800 trailers and 2,800 employees are affected by the deal.
TFI is keeping the dedicated and US logistics (non-asset US based logistics services provider) divisions. The group said "it wanted to concentrate its US operations on higher-return LTL, asset-light logistics, and specialised truckload." (sh)