YRC Worldwide Announces Tentative Agreement with Teamsters
OVERLAND PARK, Kan., Sept 24, 2010 /PRNewswire via COMTEX News Network/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it has entered into a tentative agreement with the International Brotherhood of Teamsters to address the company's competitiveness, re-entry into multi-employer pension funds and progress toward long-term growth. Details of the agreement will be made available subject to the required approval by union leadership committees and the company's Board of Directors which are expected next week. Upon required approvals, the agreement will be submitted for ratification by YRCW employees represented by the Teamsters with completion targeted for late October 2010.
"This tentative agreement is an important step toward the completion of our comprehensive recovery plan," said Mike Smid, President-YRC and Chief Operations Officer of YRC Worldwide. "As our business continues to improve, the implementation of this tentative agreement will allow us to continue to provide our customers with a comprehensive portfolio of services that is competitive and reliable."
About YRC Worldwide
YRC Worldwide Inc., a Fortune 500 company headquartered in Overland Park, Kan., is a leading provider of transportation and global logistics services. It is the holding company for a portfolio of successful brands including YRC, YRC Reimer, YRC Glen Moore, Reddaway, Holland and New Penn, and provides China-based services through its Jiayu and JHJ joint ventures. YRC Worldwide has the largest, most comprehensive network in North America with local, regional, national and international capabilities. Through its team of experienced service professionals, YRC Worldwide offers industry-leading expertise in heavyweight shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Please visit www.yrcw.com for more information.
Investor Contact: Paul Liljegren
913-696-6108
paul.liljegren@yrcw.com
Media Contact: Suzanne Dawson
Linden, Alschuler &
Kaplan
212-329-1420
sdawson@lakpr.com
Web site: www.yrcw.com
Follow YRC Worldwide on Twitter: http://twitter.com/yrcworldwide
SOURCE YRC Worldwide
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