Transportation conglomerate Yellow Corp. plans to spin off its regional LTL subsidiaries Saia Motor Freight and Jevic Transportation by year's end. Both carriers are grouped under SCS Transportation, Yellow's holding company for regional operating companies.
"With the anticipated improvements in the economy, the timing is right to spin off the regional business from Yellow so both can pursue independent growth strategies," said Bill Zollars, chairman, president & CEO of Overland Park, KS-based Yellow.
Yellow also plans to fund the spin-off and near-term expansion efforts via a public offering of over three-million shares of common stock later this year.
