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A leading U.S. trucker will buy a stake in a Chinese transportation company.(Management UPDATE: AN EXECUTIVE SUMMARY OF INDUSTRY NEWS)
Logistics Management (Highlands Ranch, Co.), July, 2005
A leading U.S. trucker will buy a stake in a Chinese transportation company. Yellow Roadway, parent of Yellow Transportation and Roadway Express, will pay $45 million to buy a 50 percent share of JHJ International. Based in Shanghai, JHJ is the second-largest airfreight forwarder in China. The company employs some 1,000 workers and had estimated revenues of $330 million in 2004.Yellow Roadway said it entered the joint-venture arrangement as part of its effort to expand abroad and offer end-to-end transportation solutions.
The Chinese government must first approve the deal.
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