Yellow Roadway buys Chinese freight forwarder
OVERLAND PARK, Kan. (June 20, 2005) — Yellow Roadway, one of the largest trucking companies in the world, confirmed its plans to expand to the Red State recently.
The transportation company said it will pay $45 million to buy out all or part of four other partners in JHJ International Transportation Co. — the second-largest air freight forwarding company in China. Yellow will have 50 percent ownership.
“Finding the right partner in China was critical to our international expansion and we have found that partner in Jin Jiang,” Bill Zollars, Yellow’s chief executive officer, said in a news release. “Our objective is to provide seamless, end-to-end global transportation solutions to our customers.”
JHJ, which also provides ocean freight forwarding and logistics services, has 22 locations in China and has annual revenue of $330 million.
Zollars earlier this year said he was interested in getting a foothold in China, one of the fastest-growing economies in the world.
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