YRC Logistics has sold its US dedicated contract carriage business to Greatwide Logistics Services for US$34 million.
The transaction includes customer contracts and the trucks and trailers used in this portion of the YRC Logistics portfolio.
According to company president John Carr, the sale is a strategic move toward a more asset-light business model, and aligns resources at YRC Logistics to focus on its core offerings, including transportation, distribution and global services.
The deal also supports YRC Worldwide's comprehensive strategic plan, which includes positioning the operating companies for future success.
There are approximately 600 employees involved in the transaction, and Greatwide is working with YRC Logistics to simplify employee transition from one company to the other.
