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.
The Canada Post Group
