CONSOLIDATED FREIGHTWAY COMPLETES PURCHASE OF FIRSTAIR
Consolidated Freightway Corp. said Monday it has acquired privately held FirstAir Inc., a non-asset-based air freight forwarder. Terms of the sale were not disclosed.
FirstAir, based in Minnesota, has been renamed CF AirFreight and is a wholly owned subsidiary of CFC. Richard McCrady Sr., former chief executive officer of FirstAir, has been named president of the new subsidiary.
FirstAir's 1999 revenue topped $20 million. CF expects the new subsidiary to have a projected revenue run-rate of $50 million by the end of the year, said Pat Black CEO of CF.
