YRC completes logistics biz sale
KANSAS CITY, Kan. — YRC Worldwide has completed the $38.7 million sale of its logistics unit, Austin Ventures, as part of its continuing plans to avoid Chapter 11.
The LTL giant received $33.6 million at the initial closing, with the remaining placed in escrow.
The company said it will continue to offer logistics services through a strategic partnership with Austin Ventures.
The company has made some significant improvements in the last few months. It continues to shed assets and reports customers are returning at a time volumes are edging upward.
Have your say
This is a moderated forum. Comments will no longer be published unless they are accompanied by a first and last name and a verifiable email address. (Today's Trucking will not publish or share the email address.) Profane language and content deemed to be libelous, racist, or threatening in nature will not be published under any circumstances.