Rochester,NY 8/11/2009 1:40:26 AM
YRC Worldwide Inc.YRCW-Signs $81 Million Facility Sale, Lease deal
YRC Worldwide Inc
YRC Worldwide will merchandise $81 million in property to NorthAmerican Terminals Management, leasing certain infrastructure, the company said Aug 7.
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The sale-leaseback deal followed Teamster ratification of the company’s renumerations and benefits reduction plan, which will make a profit of the embattled trucker more than $800 million by the end of year 2010 and more than a billion dollars by 2013.
The nation’s largest industrial trucking operator has been merchandising and leasing back property to collect the cash it needs to meet liquidity covenants. Its banking committee has revised those covenants many times this year alone.
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