- The Toronto Stock Exchange started the week strong with the Industrials sector the best performer
- Transportation company TFI International (TSX:TFII) was at the top of the stack
- The company made news earlier this month when it acquired Montréal-based Axsun Group, a North American provider of inter-modal and freight brokerage services
- Year-to-date, TFI stock has risen 22.8 per cent and has grown 26.1 per cent since this time, last year. This stock has also added C$20.33 in value over the last month and currently sits at C$166.71 in value
The Toronto Stock Exchange started the week on a strong note with the Industrials sector as one of the best performing indices.
At the top of the stack was TFI International Inc. (TSX:TFII), a transportation and logistics company, operating across the United States and Canada through its subsidiaries.
The company made news earlier this month when it acquired Montréal-based Axsun Group, a North American provider of inter-modal and freight brokerage services. Founded and led by President and CEO Steve Ramescu, Axsun operates a small fleet of 20 tractors and 300 trailers, generating annualized revenues of C$90 million.
TFI International’s Chairman, President, and Chief Executive Officer, Alain Bédard, praised Ramescu’s leadership, explaining that the firm utilized an asset-light and technologically sophisticated approach to serve a very demanding Fortune 100 customer base.
“Axsun’s existing business will prove complementary to our service offerings in both Canada and the US, with many of our customers increasingly looking toward intermodal as a solution for their freight movement requirements. We look forward to Axsun’s contributions to our continued growth and emphasis on service quality under the TFI International umbrella.”
Axsun does business out of multiple locations across Canada and the U.S., providing an integrated mix of intermodal services as well as over-the-road highway, drayage, logistics, and warehousing on a primarily asset-light basis.
Year-to-date, TFI stock has risen 22.8 per cent and has grown 26.1 per cent since this time last year. This stock has also added C$20.33 in value over the last month and currently sits at C$166.71 in value.