US Freight Trucking Group YRC Sells Chinese Logistics Interest

Acquisition Policy Reversed as Times Get Tough

March 11, 2012: Following our story last month concerning the rebranding of YRC Worldwide, the trucking and logistics group, which incorporates subsidiary YRC Freight, has, as predicted, continued its disposal of assets with the sale of the groups interest in Shanghai Jiayu Logistics Co., Ltd. to its 35-percent joint venture partner. YRC bought its 65% stake in the company in 2008 after a period stretching back several years when it had grown enormously through an acquisition policy started when the Yellow Corporation bought out the Roadway Corporation in a billion dollar deal to form the Yellow Roadway Corporation.

YRC paid $47.7 million when they purchased their share of Shanghai Jiayu Logistics, principally a less than truckload road haulage outfit, but never took up the option they had to buy the balance of shares in 2010 at the $14 million agreed. The deal was described at the time by then Chairman, President and CEO of YRC Worldwide, Bill Zollars, as, “The next step in building a comprehensive portfolio of logistics services for our customers in China.”

Click here to read more.

Be the first to comment

Please check your e-mail for a link to activate your account.
Get Advice Join TDU Donate

Recent News

IMPORTANT DETAILS: TDU Black Leadership Conference

The TDU Black Leadership is coming up!

UPS has 283 million reasons to delay retro pay

Ten weeks. That’s the latest word from IBT Package Director Denis Taylor on how long it will take UPS to issue retro checks–money owed to you–following the April 29 implementation of the contract. Taylor reported to officers and agents at the national grievance panel meeting that retro checks are expected in the first pay period in July. There is no report that Taylor attempted to do anything about the stretching out of “6-8 weeks” to 10-11 weeks.

View More News Posts