CF sells Canadian unit

March 11, 2003
Consolidated Freightways Corp. yesterday signed a letter of intent with CF Canada Acquisition Ltd. (CFCAL) to sell the assets of its Canadian subsidiary, Canadian Freightways Ltd. (CFL), and the assets of certain CFL subsidiaries for $90 million U.S. CFCAL is a group comprised of current CFL senior management and a financial partner. CFL is financially and operationally independent from CF and is
Consolidated Freightways Corp. yesterday signed a letter of intent with CF Canada Acquisition Ltd. (CFCAL) to sell the assets of its Canadian subsidiary, Canadian Freightways Ltd. (CFL), and the assets of certain CFL subsidiaries for $90 million U.S.

CFCAL is a group comprised of current CFL senior management and a financial partner.

CFL is financially and operationally independent from CF and is not part of the September 2002 bankruptcy proceedings filed by the parent company. CFL's operations have continued since its parent filed for bankruptcy in September 2002.

Sponsored Recommendations

Heavy-Duty Maintenance Checklist

A maintenance checklist can help ensure you hit everything necessary during an inspection. Check out our free downloadable checklist to help streamline your repairs.

Five Ways a Little Data Can Save Your Company Millions

While most trucking and logistics companies rely on cellular to keep their work fleet connected, satellite has the ability to connect anywhere and through small data transmission...

Fleet Case Study: 15% YOY Growth for ITDS

Learn how this small trucking company scaled significantly and maintained outstanding customer service without adding additional people. Sylectus TMS can automate operations and...

Unlocking Fleet Safety & Efficiency: The Managed Service Advantage

Want to boost your fleet's safety and efficiency? Tune in now to discover the power of Managed Services in optimizing your safety program, streamlining operations, and making ...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!