Yellow spinning off LTL subsidiaries

Transportation conglomerate Yellow Corp. plans to spin off its regional LTL subsidiaries Saia Motor Freight and Jevic Transportation by year's end. Both carriers are grouped under SCS Transportation, Yellow's holding company for regional operating companies. "With the anticipated improvements in the economy, the timing is right to spin off the regional business from Yellow so both can pursue independent
March 15, 2002
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Transportation conglomerate Yellow Corp. plans to spin off its regional LTL subsidiaries Saia Motor Freight and Jevic Transportation by year's end. Both carriers are grouped under SCS Transportation, Yellow's holding company for regional operating companies.

"With the anticipated improvements in the economy, the timing is right to spin off the regional business from Yellow so both can pursue independent growth strategies," said Bill Zollars, chairman, president & CEO of Overland Park, KS-based Yellow.

Yellow also plans to fund the spin-off and near-term expansion efforts via a public offering of over three-million shares of common stock later this year.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

 

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