Quebec Pension Manager Rebukes Trucking Firm TFI for Planning Move to US

TFI International, a leading North American transportation and logistics company, has announced its intention to pursue re-domiciliation from Canada to the United States. This decision has drawn criticism from the Caisse de dépôt et placement du Québec (CDPQ), one of Canada's largest pension fund managers, which holds a significant stake in TFI. The CDPQ has expressed its disapproval of the move, citing concerns about the potential impact on Canadian jobs and the economy.

TFI International, based in Montreal, has been a major player in the Canadian trucking industry for decades. The company's decision to re-domicile to the United States has raised concerns among Canadian stakeholders, including employees, customers, and suppliers. The CDPQ, which manages the pension funds of public and private-sector workers in Quebec, has been a vocal critic of the move.

The CDPQ has stated that it is "disappointed" with TFI's decision to re-domicile to the United States. The pension fund manager has expressed concerns about the potential impact on Canadian jobs and the economy, as well as the potential loss of a major Canadian company. The CDPQ has also raised questions about the transparency and communication surrounding the decision-making process.

TFI International has stated that the re-domiciliation is part of a broader strategy to expand its operations and better compete in the global market. The company has also noted that it has been trading on the New York Stock Exchange since 2020 and that a majority of its operations and shareholders are already based in the United States. However, the CDPQ and other Canadian stakeholders have raised concerns about the potential loss of Canadian jobs and the impact on the Canadian economy.

The CDPQ has also questioned the transparency and communication surrounding the decision-making process. The pension fund manager has stated that it was not consulted by TFI International before the announcement was made. The CDPQ has called on TFI to provide more information and engage in a dialogue with Canadian stakeholders about the potential impacts of the move.

TFI International has stated that it remains committed to its Canadian operations and will continue to invest in the country. The company has also noted that it will maintain its headquarters in Montreal and that the re-domiciliation will not result in any job losses in Canada. However, the CDPQ and other Canadian stakeholders have raised concerns about the potential long-term impacts of the move and the potential loss of a major Canadian company.

The re-domiciliation of TFI International to the United States has raised important questions about the future of Canadian companies and the potential impact on the Canadian economy. The CDPQ's criticism of the move highlights the concerns of Canadian stakeholders and the need for greater transparency and communication in the decision-making process. As TFI International moves forward with its plans, it will be important for the company to engage in a dialogue with Canadian stakeholders and address their concerns.



In conclusion, the re-domiciliation of TFI International to the United States has sparked controversy and concern among Canadian stakeholders, including the Caisse de dépôt et placement du Québec. The pension fund manager has criticized the move, citing potential impacts on Canadian jobs and the economy. As TFI International moves forward with its plans, it will be important for the company to engage in a dialogue with Canadian stakeholders and address their concerns. The future of Canadian companies and the potential impact on the Canadian economy will be key issues to watch as this story unfolds.