SAN MATEO, Calif.– Shareholders of CNF Inc. have approved management’s proposal to change the company’s name to Con-way Inc.
Effective tomorrow, shares of the company on the New York Stock Exchange will trade under the new ticker symbol of CNW. The company also has begun a rebranding initiative to introduce a new Con-way logo and graphic identity as the master corporate brand.
“We’re pleased that shareholders have overwhelmingly voted in support of this proposal,” said Douglas W. Stotlar, president and CEO. “The Con-way name comes from a proud heritage and has a reputation for integrity, commitment and excellence with customers and shareholders. It is a powerful, well-known brand that will provide our enterprise with long-term advantages, a clear value proposition, and a distinct presence in the market.”
Con-way Inc. is organized under three primary reporting units:
-Con-way Freight, providing regional and inter-regional LTL transportation services. The former names, logos and colors of the three U.S LTL companies, Con-way Western Express, Con-way Central Express and Con-way Southern Express, will be converted to the single Con-way Freight logo and colors while Con-way Canada Express will be renamed Con-way Freight-Canada. The regional carriers will continue to be organized and operate as they do today.
-Menlo Worldwide, providing contract logistics and supply chain management services throughout North America and in 21 countries. Within the Menlo Worldwide portfolio is Vector SCM, the logistics management joint venture with General Motors Corp. Menlo and Vector will continue to operate under their existing names within the corporate Con-way master brand. The company is currently examining global trademark issues and requirements. Once the research is completed a decision to migrate the Menlo name to Con-way will be considered.
-Con-way Transportation, providing asset-based regional and transcontinental full-truckload services, dedicated expediting throughout North America, domestic brokerage services for truckload and intermodal shipments and air forwarding throughout North America. Under the new master brand initiative, the former Con-way NOW expediting and Con-way Full Load brokerage units are renamed Con-way Expedite and Brokerage. Air forwarding unit Con-way Air becomes Con-way Forwarding. Con-way Truckload will retain its existing name, with its fleet and facilities adopting the new logo and color style. Within Con-way Transportation also will be the corporation’s trailer manufacturing company, Road Systems, Inc. which retains its current name.
Rebranding of existing LTL and TL fleet equipment will be done during regular maintenance cycles. Replacement of materials and supplies using the new logo and graphics will occur as existing stores are exhausted. Complete conversion to the company’s new graphic identity is expected to take 24-36 months.
“I want to thank our stockholders for their support, and our employees for their continuing focus on delivering superior value and excellent service to our customers,” said Stotlar. “It’s an exciting time for our enterprise and a milestone in the evolution of a company that has always been able to embrace change and turn it to competitive advantage.”
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