Canadian companies

CN orders 50 electric trucks from Lion Electric

CN CEO JJ Ruest stand in from of a Lion Electric electric truck with a CN with a CN intermodal trailer attached to it.

CN (NYSE: CNI) has ordered 50 electric trucks from Canadian supplier Lion Electric Co. for intermodal operations in its largest urban markets, the companies announced Monday.

The Canadian railway plans to deploy the trucks in Toronto, Vancouver and Montreal, CN JJ Ruest said during a news conference in Montreal. They will perform urban deliveries, container shuttle service and port operations. 

The trucks will help “reduce greenhouse gas emissions, but also noise pollution,” Ruest said. “Trucks,...

https://s29755.pcdn.co/news/cn-orders-50-electric-trucks-from-lion-electric

Files from TFI’s Canpar leak after ransomware attack

A delivery vehicle of TFI's Canpar Express. Canpar files were released in a leak after a ransomware attack.

Files purportedly stolen from TFI International’s Canpar Express leaked onto the dark web on Monday after a ransomware attack targeted the Canadian trucking and logistics company’s parcel and courier subsidiaries last week. 

The leak, consisting of three documents, appears to have come from DoppelPaymer. The hacking group has taken credit for ransomware attacks on high-profile targets including the city of Knoxville and a NASA IT contractor.

It also includes a message: “As an essential service...

https://www.freightwaves.com/news/files-from-tfis-canpar-leak-after-ransomware-attack

Ransomware attack hits TFI’s Canadian courier divisions

A delivery vehicle of Canpar Express. It was among the four TFI International courier divisions hit by a ransomware attack.

A ransomware attack hit TFI International’s (NYSE:TFII) four Canadian courier divisions on Thursday, two days after the transportation and logistics company raised millions of dollars in a share offering.

The attack impacted “some systems” of Canpar Express, ICS Courier, Loomis Express and TForce Integrated Solutions, according to notices posted to the couriers’ websites. 

“We continue to meet most customer shipping needs and we are not aware of any misuse of client information,” the notices...

https://s29755.pcdn.co/news/breaking-news-tfi-ransomware-attack-hits-canadian-courier-divisions

TFI raises $219 million in share offering

A tractor-trailer from TFI International-owned carrier CFI travels on a road. TFI raised nearly $219 million in a share offering, which could allow it to make additional acquisitions.

TFI International (NYSE:TFII) raised nearly $219 million in its newly closed share offering, positioning the transportation and logistics company to aggressively pursue acquisitions in the United States and Canada.  

TFI announced the closing of the share offering on Monday, saying it issued over 5 million shares of common stock. It included more than 600,000 shares to offering’s underwriters, who fully exercised their purchase option.

The Montreal-based company said it will use the proceeds it...

https://s29755.pcdn.co/news/tfi-raises-219-million-in-share-offering

Titanium holds steady in Q2 despite revenue drop

Trailers of Titanium Transportation Group. The company had solid financial results in the second quarter of 2020 despite a drop in revenue

Titanium Transportation Group (TSX-V:TTR) grew profits and paid down debt despite a nearly 10% drop in revenue as the Canadian cross-border trucking and logistics firm pushed through COVID-19 headwinds in the second quarter. 

Ontario-based Titanium reported profits of CA$900,000 (US$676,000) or 2 cents per share, on CA$38 million in revenue. A year ago, the company had net income of CA$500,000) on CA$42 million in revenue.

Operating income increased by 26.1% during the quarter as its...

https://s29755.pcdn.co/news/titanium-holds-steady-in-q2-despite-revenue-drop

TFI share offering could add $200 million to M&A war chest

A tractor-trailer of TfI International's CFI. TFI could raise more than $200 million from a share offering.

TFI International (NYSE:TFII) plans to sell 4 million shares of common stock in an offering that could raise more than $200 million, which could fuel potential acquisitions. 

Canada-based TFI announced the share offering on Tuesday. The company said it will use the proceeds for working capital and to pay down a credit facility that it may use for “for general corporate purposes, including acquisitions.”

TFI has been active on the acquisition front in recent months. The company has made four...

https://s29755.pcdn.co/news/tfi-share-offering-could-add-200-million-to-mampa-war-chest

Mullen Group profit plunges 27%, but CEO sees turnaround

A tractor-trailer from Mullen Group's Payne Transportation drives on a road. Mullen Group reported second-quarter earnings on July 22.

Mullen Group (TSX:MTL) reported a 27% drop in profits during the second quarter. But even as the Canadian trucking and logistics firm reeled from the impact of COVID-19, the company continued to position itself for recovery as it rehired laid-off employees and reinstated its dividend.

Mullen Group recorded net income of C$23 million (US$17.1 million), or 23 cents per share, on revenue of C$257 million in its second-quarter financial results released on Wednesday. Compared to a year ago, profits...

https://s29755.pcdn.co/news/mullen-group-profit-plunges-27-but-ceo-sees-turnaround

Titanium’s US expansion heats up as Nashville brokerage launches

A tractor-trailer from Canadian trucking and logistics company Titanium Transportation Group. Titanium is continuing to expand in the US.

Titanium Transportation Group’s U.S. expansion took a brief pause for the COVID-19 pandemic. However, the Canadian transportation and logistics firm’s Nashville freight brokerage office has wasted little time since quietly opening on July 1. 

“Nashville is already moving freight, which is great,” Titanium Transportation Chief Operating Officer Marilyn Daniel told FreightWaves. It marks Titanium’s second U.S. location after it launched its Charlotte, North Carolina brokerage in 2019.

The brokerage...

https://s29755.pcdn.co/news/titaniums-us-expansion-heats-up-as-nashville-brokerage-launches

TFI International completes Gusgo acquisition

A shipping container is loaded onto a truck from Gusgo Transport, a Canadian trucking company recently acquired by TFI International.

TFI International (NYSE:TFII) said on Thursday that it completed its acquisition of Gusgo Transport, a small Canadian trucking company specializing in hauling and storing containers.

TFI, Canada’s largest transportation and logistics company, announced the deal on June 12.

Gusgo has a fleet of four company trucks and 48 owner-operators and storage for up to 6,000 containers in near Toronto. The carrier operates in a 500-mile radius of Toronto, serving Ontario and Quebec in Canada, and Michigan,...

https://www.freightwaves.com/news/tfi-international-completes-gusgo-acquisition

Last-mile startup GoFor raises C$9.8 million as builders shift to e-commerce

A vehicle on GoFor's on-demand delivery platform for the construction industry. The company recently closed on a round of seed funding.

GoFor Industries plans to bring its on-demand last-mile delivery service for the construction industry to more markets in the U.S. and Canada after closing on C$9.8 million in seed funding. 

The Canadian startup announced the new funding on Wednesday. The capital will help GoFor scale as everyone from construction companies to do-it-yourself home improvement enthusiasts increasingly embraces buying building materials online.

“It’s forcing a transformation — a move to e-commerce — in verticals...

https://s29755.pcdn.co/news/last-mile-startup-gofor-raises-c9-8-million-as-builders-shift-to-e-commerce

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.