Yellow keeps growing in China
OVERLAND PARK, Kan. — Taking a cue from American athletes these last two weeks, the largest trucking and logistics company in the world is ready to make a big splash in China.
YRC Worldwide announced it is buying 65 percent of Shanghai Jiayu Logistics Co, one of China’s largest trucking companies, for about $44.7 million.
The Kansas-based carrier said it expects to control the rest of the company by 2010 for up to $39 million, according to Reuters.
Shanghai Jiayu has about 3,000 trucks servicing 30,000 customers.
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