TFI

TFI has strong Q3 as logistics bet pays off

A tractor-trailer viewed from the year of TFI International trucking carrier CFI. TFI reported Q3 financial results on Thursday.

TFI International (NYSE:TFII), Canada’s largest trucking company, reported a more than 30% jump in profits during the third quarter compared to a year ago as logistics operations and government wage subsidies offset softness from its truckload and less-than-truckload businesses. 

Montreal-based TFI brought in C$110 million in net income during the quarter, or an adjusted C$1.25 per share, on C$1.25 billion in revenue. Net income increased by 34% versus a year ago, while revenue fell by 4%. 

The...

https://www.freightwaves.com/news/tfi-has-strong-q3-as-logistics-bet-pays-off

TFI International acquires CCC Transportation from Comcar

A tractor-trailer of CCC Transportation drives on a road. TFI International has acquired CCC from Comcar Industries.

TFI International (NYSE:TFII) has acquired CCC Transportation in the Canadian trucking and logistics firm’s third purchase from bankrupt Comcar Industries. 

TFI announced the deal Wednesday, saying it paid $6.8 million for Florida-based CCC. Details of the acquisition emerged last week in court filings from Comcar’s Chapter 11 bankruptcy. 

Bulk carrier CCC marks TFI’s third acquisition from Comcar. It purchased CT Transportation and MCT Transportation earlier this summer.

CCC has a fleet of nearly...

https://www.freightwaves.com/news/tfi-international-acquires-ccc-transportation-from-comcar

The Daily Dash: GM, Nikola and fuel cells; why trucking’s AB5 exemption could be in jeopardy

Nikola Two hydrogen fuel cell truck

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, General Motors and Nikola Corp. strike a deal for fuel cells and production of Nikola’s Badger pickup. Plus, diesel engines have been a big winner from the fallout of the Volkswagen diesel emissions scandal, and trucking’s exemption from AB5 could be at risk.

GM, Nikola strike a deal

General Motors will supply fuel cells and advanced batteries for Nikola Corp.’s Class 7 and 8 trucks. GM will also...

https://s29755.pcdn.co/news/gm-and-nikola-strike-fuel-cell-deal-and-californias-ab5-back-in-court

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

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

The Daily Dash: Roadrunner exits truckload business and a startup designs road for autonomous vehicles

Roadrunner leaves truckload space

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Roadrunner Transportation has fully exited the truckload business, and a startup hopes to build a road for autonomous vehicles only. Plus, NFI makes a large acquisition, and taking a cross-country trip with the head of NATSO.

Don’t call us a truckload carrier

Roadrunner Transportation Systems Inc. (OTC: RRTS) no longer operates in the truckload space. The troubled carrier has completely divested its...

https://www.freightwaves.com/news/the-daily-dash-roadrunner-exits-truckload-business-and-a-startup-designs-road-for-autonomous-vehicles

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

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

TFI scoops up flatbed carrier CT Transportation from bankrupt Comcar

A tractor-trailer of CT Transportation hauls a flatbed load. TFI International acquired nearly all of CT assets from Comcar.

TFI International (NYSE:TFII) formally announced that it has acquired nearly all of the assets of U.S. flatbed trucking company CT Transportation from bankruptcy Comcar industries. 

Canada-based TFI announced the acquisition late Monday, June 29. It came hours after announcing its asset acquisition of Comcar’s MCT Transportation.

TFI paid $15 million for CT after a frenzied auction during Comcar’s Chapter 11 bankruptcy proceedings in June. 

TFI made the acquisition through a U.S. subsidiary, Bulk...

https://www.freightwaves.com/news/tfi-scoops-up-flatbed-carrier-ct-transportation-from-bankrupt-comcar

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