October 31, 2018 – A family trucking business started in Winnipeg more than half a century ago has been purchased by CN Rail in a mega-deal targeting intermodal transport. TransX Group has 2,600 employees across North America with annual revenues in the $500-million range. Its assets include about 1,500 large trucks and 1,000 intermodal containers. CN and TransX have worked closely for going on two decades, said Mike Jones, chief operating officer of TransX Group of Companies.
Refrigerated transport is a fast-growing sector and the TransX Group’s strength there will be a boon to CN, senior manager Patrick Waldron said. "There is a growing business of temperature-controlled containers on trains, ships and trucks and TransX does a lot of that business," Waldron said. The acquisition is subject to regulatory review by the Competition Bureau and Transport Canada. There is a movement to consolidation in the transport sector, but this agreement "is more a partnership where we’re going to be able to expand our reach and provide a more diverse product," Jones said.