Winnipeg, MB — CN has announced it has closed its acquisition of The TransX Group of Companies.
The deal was first announced on Oct. 30, 2018.
“We are pleased to have concluded this important transaction that allows us to deepen our supply chain focus and to continue to offer the best services to our customers, from the first mile to the last mile. 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.
Mike Jones, chief operating officer of TransX added, “Through our talented team of people, we are looking forward to continue to improve our standard of excellence in our solution based, customer focused products, and integrated solutions.”
TransX will continue to operate independently out of Winnipeg, Man.
“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. CN will continue to expand capacity and foster additional supply chain solutions to help our partners and customers win in their marketplace,” said Keith Reardon, CN’s senior vice-president, consumer products supply chain growth.