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Oct 30, 2018

CN Rail buying trucking company TransX

The story behind CN Rail’s acquisition of TransX

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MONTREAL -- Canadian National Railway Co. (CNR.TO) has signed a deal to acquire the Winnipeg-based TransX Group of Companies.

Financial terms of the deal for the privately owned trucking firm were not disclosed.

CN chief executive JJ Ruest says the deal will help strengthen the company's intermodal business, notably the refrigerated segment.

The companies say TransX will continue to be based in Winnipeg and will operate independently.

TransX was founded in 1963 and has 3,000 employees.

The acquisition is subject to review by the Competition Bureau and Ministry of Transportation.