YRC finishes integration of Yellow, Roadway networks
Published: 02 Mar 2009 18:12:31 PSTCHICAGO, March 2 - The largest U.S. trucking company YRC Worldwide Inc said on Monday that it has completed the integration of the national networks of two of its units, a move that the company has said will save $200 annually.
The Overland Park, Kansas-based company said in a statement that its Yellow Transportation and Roadway brands will now operate under the name YRC.
YRC has been hard hit by the economic downturn in the United States, as has the whole trucking sector where freight volumes have been weak since the third quarter of 2006.
Earlier this year YRC's hourly workers approved an offer of a 15 percent stake in the company in return for a 10 percent wage cut.
Last month the company's lenders agreed to amend its $962 million credit facility, a move that analysts said should provide it with some breathing space to weather the downturn.
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