CN Expands Intermodal Services with Purchase of TransX

October 30, 2018

1 Min Read
CN Expands Intermodal Services with Purchase of TransX

The Canadian National Railway Company (CN) entered into an agreement to purchase The TransX Group of Companies, the firms announced in a joint press release Tuesday. 

“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,” CN President and Chief Executive Officer J.J. Reust said in a statement. “TransX has a 55-year history of providing innovative customer solutions in an industry that continues to evolve.”

CN said the move will provide its customers with greater supply chain flexibility and more transportation options. TransX, based in Winnipeg, will continue to operate independently. 

“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,” said Mike Jones, chief operating officer of TransX, in the release. 

The companies did not reveal the financial terms of the transaction. Before the deal closes, regulators from the Competition Bureau Canada and Canada’s Ministry of Transportation will review the transaction. 

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