Con-way Inc. has announced that its truckload operating unit, Contract Freighters, Inc. (CFI) will change its name to Con-way Truckload. The name change follows the $750 million acquisition of the company by Con-way Inc. on August 23, 2007.
Con-way Truckload now includes over 2,800 tractors, 8,000 trailers and 3,500 employees, and is expected to yield $500 million in annual revenue, the company said.
"The new name communicates that we are truly part of the Con-way organization, and that's an exciting development,” said Herb Schmidt, president of Con-way Truckload. "Our integration into Con-way has brought us a larger customer base and, with it, more opportunities for our company and our people.”
"Acquiring CFI enabled Con-way to significantly enhance our truckload resources, which complements our less-than-truckload and supply chain management business units, and expands the diverse suite of high-value solutions we can offer customers,” said Douglas W. Stotlar, president & CEO, Con-way Inc. "With the name change, the former CFI becomes effectively integrated into the greater Con-way brand, while still delivering the consistently excellent service that has been its hallmark for more than 50 years.”