• For the Driver
  • Refrigerated Transporter
  • HD Pickup & Van
  • Social Media
  • Subscribe
  • In Print
    1. News

    USF sells off freight-forwarding subsidiaries

    Oct. 18, 2002
    USFreightways Corp. (USF) said today that GPS Logistics Inc. and Seko Worldwide Acquisition LLC have agreed to acquire USF Worldwide Inc. and USF Worldwide Logistics (UK) Ltd., USF's freight-forwarding subsidiaries. USF president & CEO Samuel K. Skinner said the agreement would free it to concentrate on the growth and profitability of its core LTL, truckload and logistics operations. Skinner said
    USFreightways Corp. (USF) said today that GPS Logistics Inc. and Seko Worldwide Acquisition LLC have agreed to acquire USF Worldwide Inc. and USF Worldwide Logistics (UK) Ltd., USF's freight-forwarding subsidiaries.

    USF president & CEO Samuel K. Skinner said the agreement would free it to concentrate on the growth and profitability of its core LTL, truckload and logistics operations.

    Skinner said the transaction is expected to close on or before October 31. Terms of the contract were not disclosed, but will be discussed when the company holds its yet to be scheduled third-quarter conference call.

    About the Author

    Tim Parry

    Voice your opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!

    Continue Reading

    Sponsored Recommendations

    Increase your fleet’s fuel economy with the right lubricants

    See how Mobil Delvac™ oils boosted GP Transco's fleet.

    Career Minded

    The Peterbilt Technician Institute teaches you the skills needed for a lucrative and fulfilling career, transforming students into certified diesel technicians. Maximize your ...

    Harnessing the Power of AI for Smarter Fleet Operations

    Discover how AI is transforming fleet operations by providing real-time diagnostics and data-driven insights. Join our webinar to explore practical ways to harness AI for smarter...

    Trucking KPIs on Autopilot: Optimize Performance with a TMS

    Discover 7 essential KPIs that will revolutionize your fleet's performance. From cost-per-mile to shipment volume, learn how a TMS can put your profits on autopilot. Unlock the...