Canadian trucking

TFI to acquire APPS Transport to boost Canadian LTL business

A tractor-trailer of APPS Transport Group. TFI International is acquiring APPS.

TFI International (NYSE:TFII)  has signed an agreement to acquire APPS Transport Group, a Canadian less-than-truckload (LTL) and intermodal carrier based near Toronto, the company said on Friday.

The acquisition will help bolster TFI’s lagging Canadian LTL business. APPS Transport has annual revenue of about $76 million (CA$100 million), with about 70 company drivers and more than 80 independent contractors. 

It also suggests TFI is carrying on business as usual after a ransomware attack hit its...

https://s29755.pcdn.co/news/tfi-to-acquire-apps-transport-to-boost-canadian-ltl-business

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

Fastfrate wades into US cross-border trucking after Bestway acquisition

A tractor-trailer of Canadian carrier Fastfrate - which plans to grow its new cross-border trucking business after a recent acquisition.

Canadian transportation and logistics firm Fastfrate Group has acquired small cross-border carrier Bestway in the first step in an ambitious plan to expand its reach in the United States.

Fastfrate, based in a suburb of Toronto, quietly purchased Bestway on August 1. In terms of trucks, the deal is small, adding around 50 power units to Fastfrate’s 1,500 units across Canada. 

But for Fastfrate, a company that primarily provides long-haul intermodal trucking services within Canada, Bestway...

https://s29755.pcdn.co/news/fastfrate-wades-into-us-cross-border-trucking-after-bestway-acquisition

Cross-border trucker charged with bulk-cash smuggling of over $200,000

A Canadian cross-border trucker has been charged with bulk-cash smuggling after authorities say he attempted to smuggle 10 bags of cash over the Lewiston Bridge into Canada.

The driver, Mhamood Fadl Salih Khairi of Ontario, Canada, was charged Thursday by federal officials in the Western District of New York. The smuggling charge carries a maximum penalty of five years in prison and a fine of $250,000.

Khairi, 28, was arrested Wednesday at the Lewiston Bridge Port of Entry north of Buffalo, New...

https://s29755.pcdn.co/news/cross-border-trucker-charged-with-bulk-cash-smuggling-of-over-200000

Feds still probing $20 million marijuana shipment after trucker’s release

A U.S. Customs and Border Protection Officer talks with a truck driver at the Peace Bridge border crossing in Buffalo, New York. Customs and Border Protection Officers found $20 million of marijuana during an inspection of a trailer in June.

U.S. authorities are continuing to investigate the attempted smuggling of $20 million of marijuana from Canada to the U.S. after prosecutors dropped the charges against the trucker hauling the load.

U.S. Attorney James P. Kennedy Jr. said in a statement that his office moved to have the criminal complaint dismissed to “allow the government additional time to conduct a full forensic examination of certain electronic evidence recovered during the seizure and to permit additional steps to be taken...

https://s29755.pcdn.co/news/feds-still-probing-20-million-marijuana-shipment-after-truckers-release

Trucker free after charges dropped in $20M US-Canada border drug bust

A truck prepares to enter the United States from Canada via the Peace Bridge border crossing near Buffalo, NY. Criminal charges were recently dropped against a truck driver accused of attempting to smuggle $20 million of marijuana from Canada to the United States.

A truck driver is expected to return to Canada on Thursday night after a judge dismissed criminal charges against him nearly two weeks after his arrest at the U.S. border on suspicion of attempting to smuggle $20 million worth of marijuana into the country.

U.S. Magistrate Jeremiah McCarthy dismissed the charges against Prabjot Nagra, 26, at the request of a federal prosecutor during a remote U.S. District Court hearing in Buffalo, New York, on Thursday.

While Assistant U.S. Attorney Misha...

https://s29755.pcdn.co/news/trucker-free-after-charges-dropped-in-20m-us-canada-border-drug-bust

COVID-19 testing coming to a truckstop in Canada

A member of the New York Army National Guard performs a COVID-19 test

Drivers will soon be able to get tested for COVID-19 at a truckstop in Canada under a pilot program in Ontario that also brings free coronavirus screenings to select carrier locations and a drug and alcohol testing clinic. 

Ontario’s provincial government launched the eight-week program on Wednesday. The program aims to make it easier for truck drivers to get tested for COVID-19, particularly long-haul cross-border drivers who spend much of their time on the road in the United States.

“With this...

https://www.freightwaves.com/news/covid-19-testing-coming-to-a-truckstop-in-canada

Bankrupt ENTREC courts buyers for subsidiaries

ENTREC's fleet includes semi-trucks for heavy haul transportation like the ones seen parked.

Bankrupt ENTREC has started looking for buyers for its heavy haul trucking and crane services subsidiaries – ENT Oilfield Group in Canada and ENTREC Cranes & Heavy Haul in the U.S.

The Alberta-based company is marketing the subsidiaries individually, according to investment teasers from Sequeira Partners and Ernst & Young. Bid deadlines for the subsidiaries are set for June 26, with final agreements anticipated by August 4.

ENTREC Cranes & Heavy Hauling, based in North Dakota, has 48 tractors,...

https://s29755.pcdn.co/news/bankrupt-entrec-courts-buyers-for-subsidiaries

Canadian carrier ‘plays to win’ with acquisition during pandemic slowdown

A tractor-trailer from Joseph Haulage Canada

Canadian carrier Joseph Haulage Canada has acquired Bergland Transport, a small cross-border trucking company serving the agriculture and food sectors.

The Ontario-based carriers closed the deal on Friday. The acquisition builds on Joseph’s diverse fleet of 350 trucks, which handle haulage and specialized bulk transport.

The deal marks one of the few acquisitions amid the slowdown in Canadian transport M&A activity during the COVID-19 pandemic.

“We have a motto: We should never let a crisis go to...

https://s29755.pcdn.co/news/canadian-carrier-plays-to-win-with-acquisition-during-pandemic-slowdown

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