Reports are that Yellow Roadway beat out Europe’s second largest express delivery service, TNT NV, in winning its bid of as much as $50 million. Most recently the company had recently purchased U.S.-based less than truckload carrier, USF.
JHJ is owned by the Government of Shanghai through its Jinjiang International Industrial Investment Co. It is thought that the two companies will form a logistics joint venture, with Yellow Roadway having a 70% stake in that entity. All in all, it’s said that Yellow Roadway intends to spend some $300 million in China.JHJ International offers logistical services in China for the movement of cargo by air and sea. The earlier GPS acquisition added 25 offices throughout Asia to the Yellow Roadway portfolio as well as a Class A license in China.