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Con-way

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Con-way, Inc.
FormerlyConsolidated Truck Lines
Company typePublic
NYSE:CNW
Industry
Founded1929;95 years ago(1929)inPortland, Oregon
FounderLeland James
HeadquartersAnn Arbor Charter Township, Michigan
Key people
Douglas W. Stotlar (president & CEO)
Products
RevenueIncreaseUS$5,806 million(2014)
IncreaseUS$268 million(2014)
IncreaseUS$137 million(2014)
Total assetsIncreaseUS$3,336 million(2014)
Number of employees
30,100 (2014)
Subsidiaries
Websitecon-way.com
Footnotes / references
[1]

Con-way, Inc.(NYSE: CNW) was an Americanmultinationalfreight transportationandlogisticscompany headquartered inAnn Arbor, Michigan,United States. With annual revenues of $5.5 billion,[2]Con-way was the second largest less-than-truckload transport provider in North America, with additional operations for global contract logistics, managed transportation, truckload and freight brokerage. The company's services were sold through its primary operating companies ofCon-way Freight,Con-way TruckloadandMenlo Worldwide.These operating units providedless-than-truckload (LTL),full truckloadandmultimodalfreight transportation,as well as logistics, warehousing and supply chain management services. Con-way, Inc. and its subsidiaries operated from more than 500 locations across North America and in 20 countries.

The company was known asConsolidated Freightways, Inc.until 1996 when it spun off its long-haul trucking subsidiaries, CF MotorFreight and four others, into a separate, independent company which took the nameConsolidated FreightwaysCorporation. The parent company was renamedCNF Transportation Inc.at the time of the split and retained a set of LTL subsidiaries which had been operating under the nameCon-wayas well as its other logistics and freight forwarding subsidiaries.[3]The spinoff long-haul business, Consolidated Freightways Corporation, filed forChapter 11 bankruptcyon September 3, 2002, and ceased operations.[4]

In 2006, CNF rebranded itselfCon-way, Inc.[5]On September 9, 2015, it announced it was being acquired byXPO Logistics.[6]The sale was completed on October 30, 2015[7]and the Con-way brand had been retired by May 9, 2017.[8]

History

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For the history of the company prior to its 1996 split, seeConsolidated Freightways.

Con-way's heritage dated from 1929, when industry pioneer Leland James founded an intercity trucking company inPortland, Oregon.Initially named Consolidated Truck Lines, the company grew from a one-truck operation into one of the largest long-haul carriers in the United States by the early 1980s, and became one of the few freight transportation firms to originate in the West and successfully expand eastward.[9]Consolidated headquarters were moved to theSan Francisco Bay Areain the 1950s.

In 1996, Consolidated's unionized long-haul trucking company, CF MotorFreight, was spun off asConsolidated Freightways,Inc., creating two separate publicly traded companies.Consolidated Freightways, Inc. was renamed CNF Transportation, Inc., reflecting the familiar stock ticker symbol of the company (CNF).

Consolidated Freightways Corporation filed forChapter 11 bankruptcyon September 3, 2002, and ceased operations.

In 2006, the CNF Transportation changed its name to Con-way, Inc, and the company's NYSE stock ticker was changed from CNF to CNW.

In 2007, Con-way acquiredContract Freighters, Inc.(CFI),[10]a privately held North American truckload carrier based inJoplin, Missouri,in a transaction valued at $750 million. Founded in 1951, CFI operated more than 2,600 tractors and more than 7,000 trailers, with more than 3,000 employees including approximately 2,500 drivers that serve customers throughout North America.

Con-way moved its headquarters fromSan Mateo, CaliforniatoAnn Arbor, Michiganin 2011.[11]

On September 9, 2015, Con-way announced it was being acquired byXPO Logistics,and the sale was completed on October 30, 2015.

Con-Way Freight's Headquarters in Ann Arbor, Michigan

Company structure

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Con-way, Inc. was the parent company for five wholly owned subsidiaries:

Con-way Freight

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Main article:Con-way Freight

Con-way freight provided less-than-truckload service across North America.

Con-way Truckload

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Main article:Contract Freighters, Inc.

Con-way Truckload, since acquired byTFI Internationalin 2016 renamedContract Freighters, Inc.(CFI), provided full truckload shipping across the United States, Mexico and Canada.

Con-way Enterprise Services

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Con-way Enterprise Services was the administrative and information technology division of Con-way, Inc., and was based in Portland, Oregon.

Menlo Worldwide Logistics

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Main article:Menlo Worldwide Logistics

Menlo Worldwide Logistics designed and implemented logistics solutions across the globe.

Con-way Manufacturing

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Con-way Manufacturing, formerly Road Systems, Inc., was a trailer refurbishing and manufacturing company that supplied trailing equipment to the company’s trucking fleets.

References

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  1. ^Con-way (30 March 2015)."Con-way Inc. 2014 Annual Report"(PDF).Con-way.Retrieved12 November2021.
  2. ^Con-way (31 March 2014)."Con-way Inc. 2013 Annual Report"(PDF).Con-way.Retrieved12 November2021.
  3. ^Fuller, Craig (January 3, 2020)."Online Haul of Fame: Consolidated Freightways (CF Freight)".FreightWaves.Archivedfrom the original on November 1, 2021.RetrievedNovember 17,2021.
  4. ^Romero, Simon (September 3, 2002)."Consolidated Freightways Nears Collapse".The New York Times.Archivedfrom the original on March 15, 2016.RetrievedNovember 11,2012.
  5. ^Con-Way."History".Archived fromthe originalon November 7, 2012.RetrievedNovember 17,2021.
  6. ^"XPO Logistics to Acquire Con-way"(Press release). Greenwich, Connecticut. Archived fromthe originalon 11 September 2015.Retrieved10 September2015.
  7. ^Solomon, Mark B. (30 October 2015)."XPO closes purchase of Con-way; layoffs begin within Con-way system".DC Velocity.Retrieved4 May2017.
  8. ^"XPO Completes LTL Rebranding".Transport Topics.May 10, 2017.Archivedfrom the original on August 16, 2021.RetrievedNovember 5,2021.
  9. ^"About Con-way".Con-way.Archived fromthe originalon 16 February 2012.Retrieved13 February2012.
  10. ^Carey, Nick (23 October 2007)."Con-way Profits Fall, Say Competition Hurts Prices".Reuters. Archived fromthe originalon 9 September 2012.Retrieved5 April2012.
  11. ^Bomey, Nathan (2 October 2011)."Why Con-way Inc. moved its headquarters from Silicon Valley to Ann Arbor area".AnnArbor.com.Retrieved12 November2021.

Further reading

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