Profile: Con-Way Inc. (CNW.N)

Con-way Inc. (Con-way), incorporated in 1958, provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers. Con-way’s principal business units operate in regional and transcontinental less-than-truckload (LTL) and full-truckload freight transportation, contract logistics and supply-chain management, truckload brokerage, and trailer manufacturing. Con-way Inc. is divided into five segments: Freight, Logistics, Truckload, Vector, and Other.

Freight

The Freight segment primarily consists of the operating results of the Con-way Freight business unit. Con-way Freight is a LTL motor carrier that utilizes a network of freight service centers to provide regional, inter-regional, and transcontinental LTL freight services throughout North America. The business unit provides day-definite delivery service to manufacturing, industrial and retail customers. At December 31, 2008, Con-way Freight operated 290 freight service centers, of which 149 were owned and 141 were leased.

Logistics

The Logistics segment consists of the operating results of the subsidiaries of Menlo Worldwide, LLC (MW), including Menlo Worldwide Logistics and its subsidiaries (collectively, Menlo Logistics). Menlo Logistics develops contract-logistics solutions, including the management of complex distribution networks and supply-chain engineering and consulting, and also provides domestic brokerage services. At December 31, 2008, Menlo Worldwide Logistics operated 68 warehouses in North America, of which 46 were leased by Menlo Worldwide Logistics and 22 were leased or owned by clients of Menlo Worldwide Logistics. Outside of North America, Menlo Worldwide Logistics operated an additional 61 warehouses, of which 52 were leased by Menlo Worldwide Logistics and 9 were leased or owned by clients. At December 31, 2008, Menlo Worldwide Logistics owned and operated 263 trucks, tractors and trailers. The headquarters for Menlo Worldwide Logistics are located in San Mateo, California.

Truckload

The Truckload segment consists of the combined operating results of the Con-way Truckload business unit and Contract Freighters, Inc. business unit. On August 23, 2007, Con-way acquired Transportation Resources, Inc. (TRI), the holding company for Contract Freighters, Inc. and other affiliated companies (collectively, CFI). The combined businesses provide asset-based, long-haul full-truckload services throughout North America. At December 31, 2008, Con-way Truckload operated five owned terminals. In addition to the five owned terminals, Con-way Truckload also utilizes various drop yards for temporary trailer storage throughout the United States. At December 31, 2008, Con-way Truckload owned and operated approximately 2,900 tractors and 8,200 trailers.

Vector

Vector SCM, LLC (Vector) was a joint venture formed with General Motors (GM) in December 2000. It was formed for the purpose of providing logistics management services on a global basis for GM, and for customers in addition to GM.

Other

The Other reporting segment consists of the operating results of Road Systems, a trailer manufacturer, and certain corporate activities, for which the related income or expense has not been allocated to other reporting segments, including results related to corporate re-insurance activities and corporate properties. Road Systems primarily manufactures and refurbishes trailers for Con-way Freight and Con-way Truckload.