In a surprise move, UPS has sold UPS Freight to TFI, a Canadian trucking and logistics corporation.
TFI International will take ownership and management of UPS Freight in the second quarter of this year.
TFI is the largest trucking corporation in Canada, operating truckload, LTL, courier and logistics companies. Some its operations are unionized with Teamsters Canada.
UPS Freight will be by far its largest US operation.
In a call with stock analysts, TFI’s CEO Alain Bedard stated they plan to upgrade equipment and run a more efficient operation.
Today the IBT Package Division issued a memo to reassure UPS Freight Teamsters that the sale of the company to TFI (branded as TForce Freight) will have no impact on the contract, wages, benefits or pending grievances.