• Home
  • News

    Airlines

    • Freighter Operator
    • Bellyhold Airline

    Associations

    Airports

    Technology

    • Airfreight Digitisation
    • E-Commerce Logistics

    Business

    • Air Cargo Statistics
    • Cool Chain
    • Finance
    • Supply Chain

    Freight Forwarders

    Policy

    • Air Cargo Security

    Services

    • Handlers
    • Charter Operator
    • ULD
    • Freighter Conversion/MRO
    • GSSA

    People

    News By Date

    Sectors

    • Animal Transportation
    • E-Commerce Logistics
    • Perishable Logistics
    • Pharma Logistics

    Archive News

  • Magazine
  • Advertise
  • More
    • Jobs
      • Jobs
      • Post a Job
    • Events
    • Reels
  • Subscribe
  • Newsletter
No Result
View All Result
  • Airlines
  • Airports
  • Associations
  • Business
    • Cool Chain
    • Finance
    • Air Cargo Statistics
  • Sectors
    • Animal Transportation
    • E-Commerce Logistics
    • Pharma Logistics
    • Perishable Logistics
  • Services
    • Freighter Conversion/MRO
    • Handlers
    • Charter Operator
  • Technology
    • Logistics
    • Policy
    • Air Cargo Security
  • More
    • Freight Forwarders
    • People
    • Cargo Handling
Cargo Newswire
  • Home
  • News

    Airlines

    • Freighter Operator
    • Bellyhold Airline

    Associations

    Airports

    Technology

    • Airfreight Digitisation
    • E-Commerce Logistics

    Business

    • Air Cargo Statistics
    • Cool Chain
    • Finance
    • Supply Chain

    Freight Forwarders

    Policy

    • Air Cargo Security

    Services

    • Handlers
    • Charter Operator
    • ULD
    • Freighter Conversion/MRO
    • GSSA

    People

    News By Date

    Sectors

    • Animal Transportation
    • E-Commerce Logistics
    • Perishable Logistics
    • Pharma Logistics

    Archive News

  • Magazine
  • Advertise
  • More
    • Jobs
      • Jobs
      • Post a Job
    • Events
    • Reels
  • Subscribe
  • Newsletter
No Result
View All Result
Cargo Newswire

UPS Announces Agreement to Sell UPS Freight to TFI International Inc.

January 25, 2021
in Freight Forwarders
Reading Time: 2 mins read
0 0
A A
0
Share on FacebookShare on Twitter

UPS, has entered into a definitive agreement to sell UPS Freight (UPSF) to TFI International Inc. for $800 million, subject to working capital and other adjustments.

“We’re excited about the future and the opportunities this creates for both UPS and UPS Freight as part of TFI International Inc.,” said UPS Chief Executive Officer Carol Tomé. “The agreement allows UPS to be even more laser-focused on the core parts of our business that drive the greatest value for our customers.” 

The decision to sell UPS Freight was reached following a thorough evaluation of the UPS portfolio, and aligns with the company’s “better not bigger” strategic positioning.

Related Post

DP World Strengthens Freight Forwarding Capabilities in the Americas with Key Leadership Appointments

Uzbekistan’s My Freighter My Freighter Launches New Zhengzhou-Liège Cargo Route

Scan Global Logistics Expands Operations in Latin America with New Offices in Argentina and Colombia

Singapore Airlines Integrates Capacity with CargoAi’s Booking Platform

UPS and TFI International will also enter into an agreement for UPS Freight to continue to utilize UPS’ domestic package network to fulfill shipments, for a period of five years.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close during the second quarter of 2021. UPS expects to recognize a non-cash, pre-tax impairment charge of approximately $500 million on its statement of consolidated income for the year ended December 31, 2020.

With an operating history of over 85 years, UPS Freight is one of the largest LTL carriers in the U.S., offering a full range of regional and long-haul solutions and an on-time delivery guarantee for all LTL shipments and is headquartered in Richmond, VA.

Goldman Sachs & Co. LLC is serving as financial advisor, and King & Spalding LLP is serving as legal advisor to UPS.

ShareTweetPin
Devender Grover

Devender Grover

Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.

Related Posts

Freight Forwarders

Airforwarders Association Warns of Tariff Risks for U.S. Businesses

by Devender Grover
March 4, 2025
Freight Forwarders

Gebrüder Weiss Expands U.S. Operations with New Logistics Hub in Phoenix

by Devender Grover
February 14, 2025
Freight Forwarders

Gebrüder Weiss Expands Nuremberg Logistics Hub with B+A Integration

by Devender Grover
February 13, 2025

TIACA Announces 2025 Hall of Fame Recipient

June 6, 2025

New contract extensionWestJet Cargo relies on Jettainer as long-term ULD management partner

NY/NJ Foreign Freight Forwarders & Brokers Association Announces 2025 “Captain of Industry” Award Recipient

Avianca Cargo announces a collaboration agreement with Amazon Air Cargo

SAL and GCL Sign Strategic Agreement to Strengthen Specialized Logistics Solutions for the Entertainment, Sports, and Arts

Air France KLM Martinair Cargo marks five years of tech-driven, customer-centric transformation

Tags

Airbus Air Canada Air Cargo Aircargo Air Cargo News Air Freight Airfreight Airlines American Airlines Atlas Air Aviation Aviation Industry Aviation News Boeing cargo industry news Cargo International News Covid 19 DB Schenker DHL DHL Express dnata E-commerce Emirates Emirates SkyCargo Etihad Cargo Europe Freighter Freighters IAG Cargo IATA Latest Air Cargo News Logistics Logistics News Lufthansa Cargo Pharma Qatar Airways Qatar Airways Cargo Supply chain Sustainability Swissport Technology TIACA Turkish Cargo UPS WFS
  • Home
  • About us
  • Magazine
  • Subscribe
  • Reels
  • Events
  • Advertise
  • Careers
  • Contact us
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Copyright © 2025 Profiles Media Network Pvt Ltd. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Airlines
    • Airports
    • Associations
    • Business
    • Freight Forwarders
    • People
    • Cargo Handling
    • Sectors
    • Services
    • Technology
    • News By Date
  • Reels
  • Magazine
  • Archive News
  • Subscribe
  • Newsletter
  • Advertise
  • Jobs
  • Subscribe
  • Events

Copyright © [2024] Profiles Media Network Pvt Ltd All Rights Reserved. Build with ❤️ by Onairdigital

Our website uses cookies. We use cookies and similar technologies to personalise content, to provide you with relevant marketing, to enhance your user experience and to gain insight and track how you interact with us and our partners. Learn more in our Privacy Policy and Cookie Policy.