Con-way
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| Company type | Public |
|---|---|
| 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$ 5.5 billion (2013)[1] |
| US$ 208.9 million (2013)[1] | |
| US$ 99.2 million (2013)[1] | |
Number of employees | 27,900 (December 2010) |
| Subsidiaries | Con-way Freight Menlo Worldwide Logistics Con-way Truckload |
| Website | Con-way.com |
Con-way, Inc. (NYSE: CNW) was an American multinational freight transportation and logistics company headquartered in Ann Arbor, Michigan, United States. With annual revenues of $5.5 billion,[2] Con-way is the third largest transportation and logistics company in America, according to the 2013 Fortune 500 list.[3] The company sells its services through its primary operating companies of Con-way Freight, Con-way Truckload and Menlo Worldwide. These operating units provide less-than-truckload (LTL), full truckload and multimodal freight transportation, as well as logistics, warehousing and supply chain management services. Con-way Inc. and its subsidiaries operate from more than 500 locations across North America and in 20 countries.
On September 9, 2015 Con-way announced it was being acquired by XPO Logistics.[4]
History
Con-way Inc., 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.[5] Consolidated headquarters were moved to the San Francisco Bay Area in the 1950s. Long-haul services were spun off under the name Consolidated Freightways in 1996.[6]
Con-way's LTL service is now called Con-way Freight; other components are Menlo Worldwide Logistics, Con-way Truckload and Con-way Multimodal.
On April 18, 2006, the company changed its name from CNF, Inc. to Con-way, Inc, and the company's NYSE stock ticker was changed from CNF to CNW.
In August 2007, Con-way acquired Contract Freighters, Inc. (CFI).[7] 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, Michigan in 2011.[8]
Company Structure
Con-way, Inc. is the parent company for five wholly owned subsidiaries:
Con-way Freight
Con-way freight provides Less-Than-Truckload service across North America.
Con-way Truckload
Con-way Truckload provides full truckload shipping across the United States, Mexico and Canada.
Con-way Enterprise Services
Con-way Enterprise Services is the Administrative and Information Technology division of Con-way, Inc. Based in Portland, Oregon.
Menlo Worldwide Logistics
Menlo Worldwide Logistics designs and implements logistics solutions across the globe.
Con-way Manufacturing
Con-way Manufacturing, formerly Road Systems, Inc., is a trailer refurbishing and manufacturing company which supplies trailing equipment to the company’s trucking fleets.
References
- ^ a b c "2013 Annual Report to Shareholders". Con-way, Inc.
- ^ 2013 Con-way Inc. 2013 Annual Report
- ^ "Fortune 500 2013 - Fortune on CNNMoney.com". CNN.
- ^ [1]
- ^ [2]
- ^ Consolidated Freightways: Information from Answers.com
- ^ Carey, Nick (23 October 2007). "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