CN has announced that it has concluded the acquisition of The TransX Group of Companies, one of the largest and oldest transportation companies in Canada. TransX will continue to be based in Winnipeg and will operate independently.
“We are pleased to have concluded this important transaction that allows us to deepen our supply chain focus. This transaction will support the safe and efficient movement of our customers’ goods to their end markets in a fast-growing consumer economy,” said JJ Ruest, President and Chief Executive Officer of CN.
“CN and TransX have been supply chain partners for many years. With the acquisition of TransX, CN will continue to support the wholesale and beneficial cargo owner customers, including in the growing, service sensitive, refrigerated transportation business,” said Keith Reardon, CN’s Senior Vice-President, Consumer Products Supply Chain Growth.
The terms of the deal have not been disclosed.
Source: CN
