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  1. #11
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    Default Re: UPSF sold to TFI

    Well they said everything was gonna stay the same but here we go..

    TFI International buys UPS Freight for $800 million, rebranding as “TForce Freight”

    By John D. Schulz · January 25, 2021
    UPS is selling its UPS Freight less-than-truckload (LTL) unit to TFI International Inc., a Canadian holding company that is parent to truckload giant CFI and other transport entities, for $800 million, subject to working capital and other adjustments. The company will rebrand as “TForce Freight” under Canadian ownership.

    The sale of UPS’s LTL and dedicated truckload units shakes up the staid $46 billion LTL sector at a time when most large LTL companies, even including once-troubled Yellow Corp., are making solid profits.

    Richmond, Va.-based UPS Freight did an estimated $3 billion in business while ranking in the top 10 of LTL carriers last year, according to analysts. The $800 million sale price is believed to be a bargain for a once-profitable LTL company that UPS bought from then-Overnite Transportation for $1.25 billion in 2005.

    TFI said approximately 90% of the acquired business will operate independently within TFI International’s LTL business segment under its new name, “TForce Freight.” The acquired dedicated TL assets will join TFI’s truckload business segment that includes Joplin, Mo-based CFI. The transaction is subject to usual and customary closing conditions, including regulatory approvals.

    Alain Bédard, chairman, president and CEO of TFI International, called the acquisition a “highly strategic transaction” that will strengthen its service offerings to customers as well as our ongoing relationship with UPS.

    “Our strategy of operating independent business units with a high degree of accountability is well-suited for building on UPS Freight’s strengths and improving margins over time,” Bedard said.

    TForce Freight will continue to serve UPS’ ongoing LTL distribution needs, and UPS will continue to provide freight volumes and other services to TForce Freight for a base term of five years after the transaction, both companies said.

    “We also look forward to offering expanded strategic network opportunities to UPS in Canada,” Bedard added. “This transaction is a ‘win-win’, allowing TFI to continue our strategic expansion across the US and aligning with UPS’ ‘Better not Bigger’ strategic positioning.”
    https://www.logisticsmgmt.com/articl...A6kR3RN5boIjLE

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  3. #12
    I Am Rocking Now

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    Default Re: UPSF sold to TFI

    As a employee of UPS Freight, you (TFI) bought a Union company with a pension, guess what the pension is....NON-NEGOTIABLE...there will be a strike if you try and take it away IMO.

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  5. #13
    I Am Rocking Now

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    Default Re: UPSF sold to TFI

    Quote Originally Posted by Sayheykid View Post
    As a employee of UPS Freight, you (TFI) bought a Union company with a pension, guess what the pension is....NON-NEGOTIABLE...there will be a strike if you try and take it away IMO.
    I was wondering when you were going to comment Kid,it's going to be very interesting to see how this plays out...The CEO statement...''improve TForce Freight's efficiency and productivity''....My question would be...Who in the name of Un-Holy Hell is more efficient and productive then UPS?...A lot of different interpretations with that statement...

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  7. #14
    I Am Rocking Now

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    Default Re: UPSF sold to TFI

    Quote Originally Posted by wizard View Post
    I was wondering when you were going to comment Kid,it's going to be very interesting to see how this plays out...The CEO statement...''improve TForce Freight's efficiency and productivity''....My question would be...Who in the name of Un-Holy Hell is more efficient and productive then UPS?...A lot of different interpretations with that statement...
    To be honest with you, UPS tried to run us like Parcel..they have no ideal how to run a freight company IMO....and second I think they have been shopping us around for a while...kinda happy someone bought us...(no one buys a Union Company)..IMO, if they didn't find some one soon they would have liquidated us IMO..all are tractors are Brown now..and I think they are going to keep them.IMO..thats why the price is so low.....I plan on retiring in a year...but still want that pension to keep going or it will dry-up..that is why IMO it is a must..and I tell the young guys not to give it up EVER..for me and them.

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  9. #15
    I Am Rocking Now

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    Default Re: UPSF sold to TFI

    Sayheykid, are you in a UPSF single employer pension fund?

  10. #16
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    Default Re: UPSF sold to TFI

    Quote Originally Posted by Sayheykid View Post
    To be honest with you, UPS tried to run us like Parcel..they have no ideal how to run a freight company IMO....and second I think they have been shopping us around for a while...kinda happy someone bought us...(no one buys a Union Company)..IMO, if they didn't find some one soon they would have liquidated us IMO..all are tractors are Brown now..and I think they are going to keep them.IMO..thats why the price is so low.....I plan on retiring in a year...but still want that pension to keep going or it will dry-up..that is why IMO it is a must..and I tell the young guys not to give it up EVER..for me and them.
    I think your right Kid,UPS never wanted freight,their heart was never in it,the only reason they did it was to compete with Fed-Ex...Couldn't stand the thought having their drivers 'wait' around for anything,reminds you kind of like APA...LoL...I remember reading UPS planned on keeping all 'branded' tractors and trailers,so yes,the price was very low...And how about the real estate?...Own,lease,rent terminals?...And the technology was all UPS,so now your looking at another expense,implementing their own...Let's hope for the best,but these days,I don't trust them as far as I can throw them,especially when it comes to Unions and pensions....

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  12. #17
    I Am Rocking Now

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    Default Re: UPSF sold to TFI

    Quote Originally Posted by 2631 View Post
    Sayheykid, are you in a UPSF single employer pension fund?
    Are pension is different than Parcel..we are not in there plan (Teamsters) it's by UPS..and if money stops coming into it..well we all know what happens than don't we..it must continue.

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  14. #18
    I Am Rocking Now

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    Default Re: UPSF sold to TFI

    Quote Originally Posted by wizard View Post
    I think your right Kid,UPS never wanted freight,their heart was never in it,the only reason they did it was to compete with Fed-Ex...Couldn't stand the thought having their drivers 'wait' around for anything,reminds you kind of like APA...LoL...I remember reading UPS planned on keeping all 'branded' tractors and trailers,so yes,the price was very low...And how about the real estate?...Own,lease,rent terminals?...And the technology was all UPS,so now your looking at another expense,implementing their own...Let's hope for the best,but these days,I don't trust them as far as I can throw them,especially when it comes to Unions and pensions....
    For all it's faults...APA was much better run than UPS Freight IMO...better run than most freight companies..yesterday or today IMO...sometimes you don't know what you have till it's gone.

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  16. #19
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    Default Re: UPSF sold to TFI

    Quote Originally Posted by wizard View Post
    I was wondering when you were going to comment Kid,it's going to be very interesting to see how this plays out...The CEO statement...''improve TForce Freight's efficiency and productivity''....My question would be...Who in the name of Un-Holy Hell is more efficient and productive then UPS?...A lot of different interpretations with that statement...

    ups is horrible at moving freight,...

  17. #20
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    Default Re: UPSF sold to TFI

    Quote Originally Posted by Sayheykid View Post
    Are pension is different than Parcel..we are not in there plan (Teamsters) it's by UPS..and if money stops coming into it..well we all know what happens than don't we..it must continue.
    Are you sure about that???

    When ups bought Overnite they were allowed to buy out of Central States pension and move the drivers to a stand alone pension fund, Which we are a part of,.....
    That's why tfi doesn't get to buy or take over our pension, And for that matter ups will still retain the assets of the Overnite pension,....When the last beneficiary die ups keeps that money,..

    In my opinion the ONLY reason ups bought Overnite was to write that one billion dollar check to get out of Central States,....That alone saved them BILLIONS in future liability's,...

    Honesty, I wouldn't put it past ups to be giving the tfi owner a check under the table to run us into the ground so they don't look bad,...

 

 
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