CN Rail Buying Winnipeg Trucking Company TransX, Terms of the Deal Not Disclosed

CN Rail Buying Winnipeg Trucking Company TransX, Terms of the Deal Not Disclosed

By The Canadian Press

CN Symington Yard
A CN locomotive moves through Symington Yard in Winnipeg on November 10, 2012. (CN / HANDOUT)

MONTREAL — Canadian National Railway Co. 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.

CP - The Canadian Press

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