SAINT JOHN -- New Brunswick's powerful
Irving family, which owns dozens of companies in Canada -- including a
handful of trucking fleets -- may be mulling a breakup of all their
assets, reports the Globe & Mail.
The newspaper, quoting sources close to the three principle owners --
brothers J.K., Arthur and Jack -- reports that the family is on the
verge of splitting up its $6 billion business empire because of a
"succession impasse" among family members.
For starters, the oil-energy business, managed by Arthur and his sons,
would break away from the forestry division, run by J.K. and his
Irving's Sunbury fleet has been at the forefront
of long combination vehicle testing in Atlantic Canada.
a presentation yesterday in Toronto, where the family was inducted into
the Canadian Business Hall of Fame, J. K. Irving confirmed to the Globe
that the structure of the family business "is evolving."
A source told the newspaper that the family began moving toward a
business breakup a few years ago, when tensions began to mount over
succession and strategic planning. "Unscrambling the eggs is very
complicated," the source commented.
The Irvings' business interests include Irving oil, forestry companies,
retail, newspapers, and trucking carriers. Transport firms under the
corporate family umbrella include Midland Transport, Sunbury Transport,
RST Industries, and JDI Logistics. NB Southern Railway and some marine
shipping companies are also owned by the Irving Group.
On the trucking side, Irving's transport providers are some of the most
pioneering in the country. Sunbury, for example, has been at the
forefront of testing long combination vehicles (LCVs) in the Atlantic
Provinces, while RST has been championing fuel-saving, new generation,
wide-base single tires for years.
Meanwhile, joining the three Irving brothers in the Canadian Business
Hall of Fame, was the late John (Bud) McCaig, founder of Alberta-based
bulk transport giant Trimac, one of Canada's top five largest for-hire
trucking companies. Courtesy of Today's Trucking