YRC Worldwide to Buy Major China Trucker

The acquisition will build YRC's logistics portfolio in China, since it already has arrangements with Jinjiang International Holdings Co Ltd (Jinjiang International), for movement of international freight. “Our existing freight forwarding and logistics joint ventures have provided the base for this strategy,” claims Bill Zollars, chairman, president and CEO of YRC Worldwide.

The acquisition will be Shanghai Jiayu Logistics Ltd., that currently serves 30,000 customers with 1,600 employees and 300 tractors, according to YRC Worldwide. In all, Jiayu has a network of more than 3,000 vehicles to be added to the 200 that YRC Worldwide already has in China.

At the time of the announcement of plans to acquire Jiayu, YRC Worldwide's wholly owned subsidiary, Meridian IQ changed its name to YRC Logistics in an effort described to “better reflect the company's expertise in logistics and its relationship to YRC Worldwide." YRC Logistics will fulfill the global logistics services of the YRC Worldwide companies.

A holding company, YRC Worldwide brands include Yellow Transportation, Roadway, Reimer Express, YRC Logistics, New Penn, USF Holland, USF Reddaway and USF Glen Moore.

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