Con-way
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| Type | Public Company |
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| Traded as | NYSE: CNW |
| Industry | Transportation, distribution |
| Founded | Portland, Oregon (1929) as Consolidated Truck Lines |
| Headquarters | Ann Arbor Charter Township, Michigan |
| Key people | Leland James (Founder) Douglas W. Stotlar (President & CEO) |
| Products | Less than truckload shipping Full truckload freight Warehousing Logistics services Supply-chain management |
| Revenue |  US$ 5.6 billion (2012)[1] |
| Operating income | US$ 207.9 million (2011)[1] |
| Net income | US$ 88.4 million (2011)[1] |
| Employees | 27,900 (December 2010) |
| Subsidiaries | Con-way Freight Menlo Worldwide Logistics Con-way Truckload |
| Website | Con-way.com |
Con-way, Inc. is a $5.6 billion[1] freight transportation and logistics services company headquartered in Ann Arbor, Michigan. Con-way sells its services through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Worldwide. These operating units provide "day-definite"[clarification needed] less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way also operates Road Systems Inc., a trailer refurbishing and manufacturing company which supplies trailing equipment to the company’s trucking fleets. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries.
The company changed its name from CNF, Inc. on 18 April 2006. The initials CNF were the company's previous NYSE stock ticket symbol. Con-way's new symbol is "CNW."
History [edit]
Con-way Inc., a $5.6 billion motor freight transportation and logistics company, traces its heritage from 1929, when industry pioneer Leland James founded an intercity trucking company in Portland, Oregon. Initially named Consolidated Truck Lines, this 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.[2] Consolidated headquarters were moved to the San Francisco Bay Area in the 1950s. Long-haul services were spun off off under the name Consolidated Freightways in 1996.[3]
Emery World Airlines had a tumultuous history. After the acquisition of Purolator and a United States Postal Service contract dispute, EWA suffered two maintenance-related crashes in the 1990s and was grounded by the Federal Aviation Administration. In December 2004, CNF sold Emery (rechristened Menlo Forwarding) to UPS for $100 million in cash and $260 million in assumed debt.
Con-way's LTL service is now called Con-way Freight; other components are Menlo Worldwide Logistics, Con-way Truckload and Con-way Multimodal.
Con-way acquired Contract Freighters, Inc. (CFI) during August 2007.[4] Contract Freighters was a privately held North American truckload carrier based in Joplin, Missouri, in a transaction valued at $750 million. Founded in 1951, CFI operates over 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 from San Mateo, California to Ann Arbor Charter Township, Michigan in 2011.[5]
External links [edit]
References [edit]
- ^ a b c d "2011 Annual Report to Shareholders". Con-way,Inc.
- ^ [1]
- ^ Consolidated Freightways: Information from Answers.com
- ^ "Con-way Profits Fall, Say Competition Hurts Prices". Reuters. Retrieved 5 April 2012.
- ^ Q-and-a: Why Con-way Inc. moved its headquarters from Silicon Valley to Ann Arbor area
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