New Penn Introduces New Guaranteed Levels of Precision

YRC Worldwide Inc. announced today that New Penn, one of its regional operating companies, will introduce a new and improved suite of guaranteed service offerings featuring superior reliability and value. All guaranteed service shipments are backed by the New Penn no-hassle guarantee to be complete and on-time or the invoice will automatically be reduced to zero dollars with no need for the customer to file a claim.

One of the primary enhancements is a new guaranteed by 9 a.m. service that provides customers with a level of morning precision that is typically found only with air freight or dedicated delivery carriers.

The other key enhancement is a new day-definite service offering that is guaranteed to deliver by 3:30 p.m., rather than end of day like most competitive offerings. By offering earlier guaranteed delivery times, customers are able to get goods into production or for sale to clients the same day the shipment arrives rather than traditional guaranteed delivery by 5 p.m. in which shipments often cannot be incorporated into the supply chain until the following day.

With the enhancements, the New Penn Guaranteed Precision suite of award-winning service offerings now includes:

Guaranteed Delivery By 9 a.m.
Guaranteed Delivery By Noon
Guaranteed Delivery By 3:30 p.m. (Day-Definite)
Guaranteed Delivery Within a Single-Hour Window
Guaranteed Delivery Within a Multi-Hour Window

"We are constantly reviewing our services in order to provide highly customizable solutions that meet the demands of our customers and their tightened supply chains," said Steve Gast, president of New Penn. "We have aligned the needs of our customers with the highly reliable capabilities of the New Penn network to provide our customers with an expanded set of guaranteed service options - all backed with the no-hassle, New Penn delivery assurance guarantee."

Second Pension Fund Seeks Payment From YRC

Trucker says it is in discussions with fund trustees

The New England Teamsters and Trucking Industry Pension Fund is seeking two months worth of pension fund contributions from YRC Worldwide and is threatening to take legal action if not paid.

A source at the Burlington, Mass.-based pension fund confirmed a letter dated May 29 was sent to YRC notifying the company of its past due contributions and that failure to make payments may affect future pension credits and eligibility for pension benefits.

The letter to YRC was similar to one dated May 20 from the Western Conference of Teamsters Pension Trust, which also sought past due payments from the carrier.

In April, YRC received approval from its banking group to provide real estate as collateral in lieu of making payments to its pension funds. Depending on employment levels, the company makes multiemployer pension contributions of $34 million to $45 million per month on behalf of its union work force, according to Securities and Exchange Commission filings.

The source at the New England Pension Fund said the notification, which included a threat to take legal action, was standard procedure when payments are overdue and does not necessarily mean the fund isn’t working with YRC to temporarily defer payments.

YRC said in a statement that it is “currently in discussions with the trustees for the pension funds and the Teamsters regarding the proposed arrangement.”