Roy Reed and Ursull Lewellan founded Contract Freighters, Inc., known as CFI Trucking, in Joplin, Missouri, in 1951. At the time, the company had only one tractor and two trailers; by 2007, the company's fleet consisted of 2,600 tractors and over 7,000 trailers. Its operations, which included primarily basic freight transport services, extended across the United States and into Canada and Mexico.Continue Reading
In 2007, Con-way, Inc. acquired CFI for $750 million to improve its transportation division, which was known as Con-way Truckload. At its height, Con-way, Inc. employed more than 30,000 people. Approximately 3,000 of those employees were originally employees of CFI Trucking who retained their positions in Joplin at the time of the sale.
In September 2015, a Connecticut-based company called XPO Logistics Incorporated acquired Con-way, Inc. for a sum of $2.72 billion. According to data provided to LogisticsMgmt.com by SJ Consulting, Con-way Truckload was the 20th largest truckload carrier in terms of annual revenue at $632 million at the time of its purchase. However, XPO Logistics announced in October 2015 that it planned too receive offers for Con-way Truckload. According to industry analysts, XPO does not view Con-way Truckload as a strategic asset, given the company's industry positioning.Learn more about Corporations