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Meyers Transport Closing

Discussion in 'News' started by lowmiler88, Jan 9, 2017.

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  1. whatiship

    whatiship Well-Known Member

    Regardless of whether they are sharing space, renting, leasing, or own they are moving the freight themselves. They consider them terminals since they have employees who work there. They have gotten to where they are by not making quick moves and studying the market. "Sharing space" would be a smart move until they know how many customers on the list stick with them. If enough do you can bet they will adding bricks and mortar of their own, if not enough do then they really haven't had to invest much.
     
    MikeJr and Igor Galanter like this.
  2. Cstewart

    Cstewart New Member

    You are right. We found that out. Good for them. We all want to be in business for the long term.
    cheers
     
  3. Shakey

    Shakey Site Supporter

    Manitoulin is not honoring Meyer's rates
     
  4. Cstewart

    Cstewart New Member

    I understand that Manitoulin is "sharing" space, not their own terminals. Is manitoulin "honoring" Meyers rates? It will all play out, but I suspect with the players it is somewhat "political". The savy clients are weighing options. Of which I am glad they have.
     
  5. Cstewart

    Cstewart New Member

    Manitoulin is "sharing" space, not new terminals.
     
  6. whatiship

    whatiship Well-Known Member

    Sometimes it's easier if you plan ahead. Manitoulin opened 3 terminals in Eastern Ontario last year which is a little unusual since their normal path to growth has been through acquisition. Meyers closes their LTL division and then sells their customer list to Manitoulin within a week of closing. A customer list is certainly not going to get you anywhere near the price of a "package deal" business, but if you are not cash distressed and can afford to wait, you sell your terminals, trucks and other assets separately and you will get a lot more then accepting a low number from one of the stalkers for the whole kit and caboodle. Meyers comes out ahead eventually with a bigger return and is still in business concentrating on the divisions that are more profitable. Manitoulin avoids the union since they didn't buy the company and will retain a bigger portion of the freight since a big chunk originated through their customers in the first place. Just a thought.
     
    chica123 and Igor Galanter like this.
  7. Cstewart

    Cstewart New Member

    Minimax Express is based out of Cornwall and has a 25 year solid reputation for being a "Premier Carrier" servicing next day to most points from SW ON to Quebec city. 6 terminals and a robust LTL list of clients. We protect our future with competitive but realistic pricing. We continue to invest in our equipment and people. So yes, there are options, and we are here for the long term,
    Cheers everyone, have a great weekend
     
  8. theman

    theman Well-Known Member

    I concur with Shakey. If there was a union there, it really hurts them from a competitive standpoint. Jackson's operation is an LTL operation (OK -- more a partial load operation) and the flatbed division spurned out of the acquisition of Flatliners that I believe was based in Brockville? Also, they opened up the terminal in Windsor (bought part of the assets of Drive Logistics).

    They are in the running on pretty much every acquisition target out there (asset and non, from what I've been told) and even though everything they've done so far has been in Ontario ultimately they are going national.
     
  9. Shakey

    Shakey Site Supporter


    union didn't help them sell to the dark horses
     
  10. whatiship

    whatiship Well-Known Member

    Titanium's history has shown a desire for carriers in a specific geographical region who can be merged thus cutting costs by reducing duplicated staff and terminals. Belleville doesn't fit into that scenario. Plus they don't seem to be fond of LTL unless it is partials to fill inbound U.S trailers.
     
  11. Freight Broker

    Freight Broker Well-Known Member

    Makes me wonder how the other Eastern Ontario LTL guys are doing...
     
  12. MikeJr

    MikeJr Moderator Staff Member

    Please keep in mind that this is only a part of a much larger company we for certain have the pleasure of working with. Mortrans and Mosaic will keep operating. Mortrans does offer great service with strong communication. I think Marty's been one of our main contacts for years and does a great job on the TL business we send him. Maybe Mortrans will take over some of the equipment from Meyers and increase their fleet size/capacity as a result?

    Is it surprising that with increased competition and somehow the competition can always 'do it for less' that a carrier on ON-QC LTL struggled? I'd say not really. Will it change the amount we love working with Mortrans? I'd say not really, good people, good service and fair rates it's not hard to send orders over there.

    Keep well,
    Mike
     
  13. theman

    theman Well-Known Member

    I heard a few months ago that Titanium was looking at them but apparently they didn't find value there. It's surprising for sure.
     
  14. whatiship

    whatiship Well-Known Member

    Always sad to hear when a long time carrier disappears. Just the nature of the business I guess. Eastern Ontario has always been a tough market for LTL. Too many miles between too few towns with too little freight. It may prove to be a smart move for the Meyers family.
     
  15. PackRat

    PackRat Site Supporter

    They also had a long standing agreement with Manitoulin to do their eastern LTL which came to an end in September. So trying to sell the company after your largest client left is sometimes "difficult".
     
  16. Freight Broker

    Freight Broker Well-Known Member

    Probably realized they'd make more selling off the assets piecemeal.. Normally "goodwill" and longevity make the business as a whole worth more than the sum of its tangible assets; however, if the business is in distress, the financials are weak, and sales have been in decline then that wouldn't be the case.
     
  17. JN1981

    JN1981 Member

    I'm surprised they just closed it down, you would think with the history and the name alone they could have found a buyer for that division instead of just shutting it down.
     
  18. Cstewart

    Cstewart New Member

    It is a sad day for all the dedicated employees at MTS. The Armbro deal was most likely a big factor. Other reasons, not for me to speculate or comment on. Just hope everyone can find new employment. Tough in the eastern ON region.
     
  19. Shakey

    Shakey Site Supporter

    I'm pretty sure it was taking all that Armbro business at the Armbro rates that started the downward spiral for MTS division.
     
  20. lowmiler88

    lowmiler88 Site Supporter

    I think the other parts of the business should survive with no issues, I think that there has been a lot of competition move into eastern Ontario over the last few years and maybe they couldn't change or didn't want to change with the times.
     

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