Thursday, November 26, 2009

Analysts: $34M logistics sale too small to relieve YRC woes

When Kansas-based trucking giant YRC Worldwide Inc. -- owner of two Central Pennsylvania-based firms -- sold a slice of its YRC Logistics business for $34 million, it barely changed the company's precarious financial position, analysts today told the Business Journal.

"The sale of one piece of a business unit for $34 million is news, but it's not going to make or break the company," said Jason Seidl, an analyst for investment firm Dahlman Rose & Co. based in New York.

YRC yesterday sold its dedicated contract transportation business to Greatwide Logistics Services with headquarters in Dallas. Dedicated transportation provides trucking to large companies. Greatwide, which has its Pennsylvania terminal on Industrial Road in Harrisburg, provides trucking for companies including Target, Coca-Cola, Adidas and Walmart. Full Story......

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