OVERLAND PARK, Kan., May 29 -- Meridian IQ, a transportation solutions management company of Yellow Corporation (Nasdaq: YELL), today announced that Kennametal Inc. (NYSE: KMT), a $1.8 billion industrial tool manufacturer headquartered in Latrobe, Pennsylvania, has partnered with Meridian IQ to optimize their transportation needs across their domestic enterprise.
Kennametal chose Meridian IQ to deliver practical solutions that meet their rapidly changing transportation requirements, improve customer service and maximize ROI. For Kennametal, Meridian IQ designed a solution that included the deployment of a web-native Transportation Management System (TMS) at 74 locations in the United States. In addition, Meridian IQ also provides operation-level services to Kennametal from its Transportation Service Center in Overland Park, Kansas.
"The Meridian IQ Transportation Management System allows us greater visibility of information across our entire domestic network and enables us to quickly make the right decisions for carrier selection based on service quality and cost parameters. From the first shipment we did, we continue to meet critical customer service requirements and reduced total cost," says Michael Waldrop, Manager, Global Logistics and Trade Compliance at Kennametal.
Meridian IQ helps companies improve the performance of their transportation network through solutions that include a Web-native Transportation Management System (TMS) that automates order management, shipment optimization and planning, tracking and reporting. The Meridian IQ TMS is designed for those companies that seek to improve transportation management using technology, but do not wish to invest large amounts of capital and are looking for a return on their investment that is quick and achievable. Meridian IQ also provides a comprehensive range of network consulting and operations capabilities for those companies who look to outsource transportation functions deemed as non-core to their business.
"We are pleased that an industrial leader like Kennametal has adopted our technology as a critical component of managing their transportation network," said Jim Ritchie, President & CEO of Meridian IQ. "Based on the industry research we have conducted, as well as the positive responses from customers, there is a clear indication that the market is very receptive to practical solutions that can be implemented easily and drive a quick ROI."
About Meridian IQ
Meridian IQ, a wholly owned subsidiary of Yellow Corporation (Nasdaq: YELL), is a global transportation solutions management company. Based in Overland Park Kansas, Meridian IQ allows companies to improve their transportation network and overall supply chain efficiency by offering flexible transportation solutions supported by Web-native technology. For more information please visit www.meridianiq.com .
Kennametal Inc. aspires to be the premier tooling solutions supplier in the world with operational excellence throughout the value chain and best-in- class manufacturing and technology. Kennametal strives to deliver superior shareowner value through top-tier financial performance. The company provides customers a broad range of technologically advanced tools, tooling systems and engineering services aimed at improving customers' manufacturing competitiveness. With approximately 12,000 employees worldwide, the company's fiscal 2001 annual sales were $1.8 billion, with a third coming from sales outside the United States. Kennametal is a five-time winner of the GM "Supplier of the Year" award and is represented in more than 60 countries. Kennametal operations in Europe are headquartered in Furth, Germany. Kennametal Asia Pacific operations are headquartered in Singapore. For more information, visit the company's web site at http://www.kennametal.com .
SOURCE Yellow Corporation
CONTACT: Media Relations, Suzanne Dawson of Linden Alschuler & Kaplan, +1-212-575-4545, firstname.lastname@example.org John Norris of Meridian IQ, +1-913-344-3202, john.norris@meridianIQ.com