Con-way
From Wikipedia, the free encyclopedia
Con-way, Inc. (NYSE: CNW) is a $ 4.2 billion freight transportation and logistics company with businesses in less-than-truckload and full truckload freight services, truckload brokerage, logistics, warehousing, supply chain management and trailer manufacturing, based in San Mateo, California (near San Francisco).
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."
CNF began as Consolidated Freightways. In the 1990s, the company moved into other markets, acquiring Menlo Logistics and Emery World Airlines. CF, a union shop, was spun-off in 1996 to a standalone entity and CNF, Inc. was formed to hold Menlo, Emery, and a new less than truckload non-union firm named Con-Way. Consolidated Freightways operated for several years but ultimately filed for bankruptcy, ceasing operations in 2002
Emery World Airlines had a tumultuous history. After the disastrous acquisition of Purolator and a contentious 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 of 2004, CNF sold the unprofitable Emery (rechristened Menlo Forwarding) to UPS for $100 million in cash and $260 million in assumed debt, a considerable loss.
Con-way's LTL service is now called Con-Way Freight; other components are Menlo Worldwide, Con-way Truckload, Con-way Mexico, Con-way Brokerage, and Con-way Freight-Canada.
Con-way joined the NASCAR sport in 2006, announcing the sponsorship of the #60 Craftsman Truck Series Toyota of Jack Sprague. Thus far, that truck has won twice in 2006.
Wyler Racing and Con-way Freight jointly announced the extension of Con-way Freight's partnership with the sponsorship of Wyler's No. 60 Con-way Freight Toyota Tundra in the NASCAR Craftsman Truck Series for the 2007 racing season. Wyler Racing also announced that three-time NASCAR Craftsman Truck Series champion Jack Sprague will be back behind the wheel of the Con-way Freight machine in 2007.
