Road Transport conglomerate YRC Worldwide has signaled its intent to provide a substantial transportation platform in China by acquiring the Shanghai Jiayu Logistics Company, the desired outcome being to better support local customers and large multinational companies based in China.

The Kansas based parent company of such brands as  YRC Logistics, Yellow Transportation and Roadway, entered into an agreement with the Shanghai Jiayu Logistics Company (SJLC) back in December of 2007, prior to the present purchase of sixty-five percent of SJLC stock.  The remainder of SJLC’s stock is set to be purchased by YRC Worldwide in 2010, subject to Chinese company’s 2008-2009 financial performance.

Presently, the Shanghai Jiayu Logistics Company is one of the largest providers of truckload and less-than-truckload ground transportation services in China, the company enjoying a client base of over 30,000 customers.  The Company also employs some 1,800 employees at its 200 locations throughout China.

Commenting on the acquisition of SJLC by YRC Worldwide, Bill Zollars, YRC Worldwide, Chairman, President and Chief Executive Officer, said that "By virtue of Jiayu’s mature network and well developed operational resources, we can help our customers to improve transportation reliability, compliance, data integrity and visibility for their shipments in China." Zollars also added that "Jiayu Logistics represents a key link in building an end-to-end supply chain capability."

The President and Chief Executive Officer of YRC Worldwide subsidiary, YRC Logistics,  Jim Ritchie, also expressed satisfaction with the deal, adding that "Since entering into the agreement with Jiayu in December 2007, we have seen strong customer interest, and we believe the comprehensive services have a tremendous appeal to the China market and to our customers based in the U.S."

Based in Overland Park, Kansas, YRC Worldwide employs approximately 60,000 people and through its numerous subsidiaries provides North America with a wide range of asset and non-asset-based transportation services.

Source: PR Newswire and YRC Worldwide

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