Yellow Roadway Corporation Celebrates First-Year Successes Company Delivers Growth, Customer Satisfaction and Impressive Synergy
"We are delighted this merger has produced solid results with tremendous potential for the future," said Bill Zollars, chairman, president and CEO of Yellow Roadway Corporation. "This was the right strategy, with the right partner, at the right time. We have the best team in the business, and together we have exceeded our synergy and growth expectations."
Noteworthy 2004 achievements include:
- Significantly increasing both revenue and operating income at all
subsidiaries
- Increasing shareholder value with the stock price reaching an all-time
high
- Delivering 2004 run-rate synergies of $100 million through
implementation of best practices and integration of backroom functions
- Paying down approximately $200 million in debt
- Maintaining strong, independent brands in the marketplace and strong,
independent relationships with customers
"Moving into 2005, Yellow Roadway has exceptional momentum, and we're looking forward to another record-setting year," Zollars said.
Yellow Roadway Corporation is one of the largest transportation service providers in the world. Through its subsidiaries including Yellow Transportation, Roadway Express, New Penn Motor Express, Reimer Express, Meridian IQ and Yellow Roadway Technologies, Yellow Roadway provides a wide range of asset and non-asset-based transportation services integrated by technology. The portfolio of brands provided through Yellow Roadway Corporation subsidiaries represents a comprehensive array of services for the shipment of industrial, commercial and retail goods domestically and internationally. Headquartered in Overland Park, Kansas, Yellow Roadway Corporation employs over 50,000 people.
SOURCE Yellow Transportation
CONTACT: Suzanne Dawson of Linden, Alschuler and Kaplan,
1-212-329-1420, or sdawson@lakpr.com