Canada Post selling off logistics business as part of effort to 'transform' Crown corporation

By WNews 1 Min Read

Canada Post Inc. is selling off its third-party logistics business to a Montreal company, according to a media release Tuesday from the Crown corporation.

The sale of SCI Group Inc. to Metro Supply Chain comes as the country’s national postal service “focuses on transforming to serve the changing needs of Canadians and Canadian businesses,” says the release.

Canada Post recorded a $290 million loss in the third quarter of 2023, while its cost of operations rose by $26 million.

According to Canada Post’s most recent annual report, SCI represents less than three per cent of the Crown corporation’s total revenue. 

- Advertisement -

The Canada Post Group

Share This Article
By WNews
Follow:
WNews bring the latest news in an objection, balance and honest.
Leave a comment
Reading: Canada Post selling off logistics business as part of effort to 'transform' Crown corporation

(C) 2012 – 2024  | WNews Broadcasting Corp, a W-World Company | All Rights Reserved

Connect
with Us

Report a Error with this Story

Notice a error or facts with this story, please submit the information below and someone from our newsroom will review it and change if required