Con-way Inc. announced today, Jan. 10, that its truckload operating unit, Contract Freighters Inc., now will be known as Con-way Truckload. Con-way Inc. completed the $750 million acquisition of the privately held Joplin, Mo.-based international truckload carrier on Aug. 23.
“The new name communicates that we are truly part of the Con-way organization, and that’s an exciting development,” says Herb Schmidt, Con-way Truckload president. “Our integration into Con-way has brought us a larger customer base and, with it, more opportunities for our company and our people.”
The new combined Con-way Truckload forms a business unit of more than 2,800 tractors, 8,000 trailers and 3,500 employees, which is expected to bring in $500 million in annual revenues. The division, combined with Con-way’s less-than-truckload carrier, Con-way Freight, and global supply chain services provider, Menlo Worldwide Logistics, brings to market extensive capabilities to provide transportation and logistics solutions from “first-mile” sourcing in Asia or Europe to “last-mile” delivery in North America, says Douglas W. Stotlar, president and chief executive officer of San Mateo, Calif.-based Con-way Inc.
“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,” Stotlar says.
Shortly after the announcement that CFI and Con-way Truckload would be merging into one operating unit, the two companies began soliciting driver input to design a pay and benefits package. The package, which became effective Jan. 1, includes an increase of $.01 per mile and numerous other driver-requested enhancements.
Con-way Truckload also recently purchased 300 Freightliner Cascadia and 160 Kenworth T660 truck models, which feature a combination of expanded and studio sleeper accommodations. In addition, the company also announced that it is purchasing 140 of the new SmartWay-approved Cummins 2007 ISX engines with the Cummins Particulate Filter.