CN acquires new intermodal division
(Source: CN press release, May 9, 2019)
MONTREAL — CN, through a subsidiary company, has reached an agreement to acquire the intermodal division of the Alberta-based H&R Transport Limited.
“H&R is well known in Alberta and across the industry for investing in its people, systems, and assets, as well as its customer centric services and best in class operations, all of which is aligned with CN’s strategy to expand our presence in moving consumer goods,” said JJ Ruest, president and chief executive officer of CN. “With the growing consumer economy requiring more sophisticated transportation solutions, CN’s strategy is to offer more end to end rail supply chain solutions to a wider range of customers.”
“The Foder Family was instrumental in establishing this customer focused orientation throughout the history of H&R and we look forward to continuing to provide exceptional service as part of the CN Family,” added David Thiessen, chief executive officer of H&R.
“CN recognizes the role of the Foder Family who acquired H&R in the early 1950s and worked to grow the original two tractor operation based in Lethbridge, Alberta,” said Keith Reardon, CN’s senior vice-president of consumer products and supply chain growth. “We have a longstanding relationship with H&R Transport. As a cross country supply chain partner, we know that their continued investments in technology and in their employees has earned them a very enviable reputation.”
The transaction is subject to customary closing conditions.
Thursday, May 9, 2019
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