Fleet buy to fuel China expansion plans: YRC

OVERLAND PARK, Kan. — The planet’s largest LTL carrier is expanding its network in the world’s fastest-growing market.

YRC Worldwide (formerly Yellow Corp.) announced a preliminary deal to acquire Chinese transportation giant Shanghai Jiayu Logistics Ltd. — its largest such transaction in Asia to date.

Following its largest customers to China, YRC says it expects its annual sales growth to jump by as much as 35 percent next year from 22 percent ($350 million) in 2006.

YRC, which was formed when Yellow Corp. bought rival Roadway for $1 billion in 2003, already operates a large Chinese air freight firm Jinjiang International Industrial Investment and a Chinese freight forwarder.

According to Reuters, YRC chief executive Bill Zollars said the company would seek further acquisitions if opportunities arose.

Meanwhile, YRC Worldwide also announced that its Meridian IQ subsidiary has changed its name to YRC Logistics to emphasize the division’s operations and ties to its parent.