Following yesterday’s sale of XPO Logistics’ truckload operation to Canada’s TransForce Inc., it has been announced that CFI trucks will be hitting the road again.
Here’s how it happened.
Joplin-based Contract Freighters Inc., or CFI, was founded 1951 and was acquired by Con-way in 2007. Then XPO Logistics acquired Con-way last year as part of a $3 billion acquisition.
When XPO decided to sell their truckload operation to TransForce, the terms of the deal included the name change back to CFI.
CFI spokesperson Katlin Owens said that they will operate as a stand alone company and that they have retained their own Finances, IT, and Human Resources throughout the Con-way and XPO acquisition.
No layoffs are expected.
Owens said that the company’s employees are thrilled about the return of the CFI name: “We are excited. People have been digging out (CFI) T-shirts that are decades old. It is electric.”
Sources:
The Joplin Globe