CN BUYS PIECE OF FREIGHTWISE
Canadian National, the rail company, said it will invest in FreightWise Inc., a developer of online transportation marketplaces, and use the dot-com as a sales channel for its intermodal services.
Freightwise launched its intermodal marketplace in the United States in October and plans to expand to include transborder truckload and domestic Canada services in mid-2001. CN said it will support and promote FreightWise in Canada and give shippers the choice to purchase CN domestic or transborder intermodal services through the FreightWise load matching site.
“CN's investment is consistent with our plan to seek strong strategic equity partners, ” said Greg Fox, FreightWise president and chief executive officer. 'Freightwise plans to include other modes of transportation and expanded services in the future.”
FreightWise went live on Oct. 28 with support from shippers and leading truckload carriers, such as Schneider National and J.B. Hunt.