YRC acquires Chinese provider Jiayu Logistics

YRC Worldwide has announced that its wholly-owned subsidiary, YRC Logistics, has successfully concluded its acquisition of Chinese truckload and LTL provider Shanghai Jiayu Logistics Co., Ltd.

YRC Worldwide has announced that its wholly-owned subsidiary, YRC Logistics, has successfully concluded its acquisition of Chinese truckload and LTL provider Shanghai Jiayu Logistics Co., Ltd.

YRC Logistics acquired 65% of Jiayu’s stock for $44.7 million, and the company expects to purchase the remaining 35% in 2010 for no more than $39 million, depending on Jiayu’s 2008-2009 financial performance.

Jiayu’s 30,000 customers, 1,800 employees, 200 locations and 3,000 vehicles will provide a platform for YRC Worldwide to support the needs of local Chinese customers and large multinational companies with transportation needs in China, the company said.

View more Fleet Owner management news and other commercial trucking-related articles.

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish