Yellow Roadway clears China deal; announces second
OVERLAND PARK, Kan. –Transportation giant Yellow Roadway Corp. said it has finalized its deal to buy half of the second-largest air freight importer in China.
Yellow also said its Meridian IQ logistics subsidiary has entered an agreement with Yellow’s new Chinese partner, Shanghai Jin Jiang International Industrial Investment Co., to form a joint logistics company in China.
The company announced in June that it had paid $45 million to buy out all or part of four other partners in JHJ International Transportation Co. Yellow will have 50 percent ownership of JHJ with Jin Jiang Investments.
Yellow CEO Bill Zollars, has expressed interest over the last year about getting a foothold in China — the fastest-growing economies in the world.
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