TransForce Inc. executives have announced a Dec. 23 meeting in Montreal to ask shareholders to approve a corporate name change to TFI International.
The Canadian for-hire carrier would need to file documents with the Toronto Stock Exchange after the final vote, but before the end of the year, to have the change become effective in January. The company’s stock symbol also would change from TFI to TFII. The company needs at least a two-thirds vote from common shareholders for approval.
“This change in our corporate identity is in line with the company’s growing operations and footprint in the U.S., where we currently generate approximately 50% of our revenue,” TransForce CEO Alain Bedard said in a statement.
In October, XPO Logistics sold the Con-way Inc. truckload business to TransForce for $558 million in cash, which Bedard called an important expansion in the United States and Mexico for his company.
TransForce ranks No. 10 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.