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It’s been a more than 40-year marriage, so why end it any time soon? Last month, Canadian Pacific Railway and trucking/logistics firm Consolidated Fastfrate (CFF) reached a new $500 million agreement that extends their intermodal partnership another 10 years.
Since they teamed up in 1966, the companies have established a national co-location program under which CFF builds its transportation centers adjacent to CPR’s intermodal terminals to reduce operating costs and gain intermodal efficiencies. One of Canada’s largest privately owned transportation and logistics firms, CFF is the only less than truckload (LTL) carrier that co-locates facilities with the Class I, CPR said.
“Over the past 40 years, we have seen the incredible growth and development of the intermodal industry, from a minor mode of transportation to a multi-billion-dollar global business,” said CPR President and Chief Executive Officer Fred Green in a prepared statement. “This is an important business for CP, and CFF has been a strategic intermodal partner from the start.”
CPR and CFF offer a combined long-haul rail and dock-to-dock transportation service targeted at LTL business. CFF also offers freight consolidation, deconsolidation, warehousing and transshipping services.
“The strategic relationship we have with CP, which exists at every level of their organization, has been the foundation upon which we built our company,” said CFF President and CEO Ron Tepper. “Our long-term partnership illustrates that two companies can co-operate to increase efficiencies and provide a better product to their customers.”