Starkravinloon
Hero's Falling At Home
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:smilie_132:Man, are we the talk of the industry or what. I LOVE IT. All these people that bashed us for years are wondering"Where the "H" did they come from!!!"
which terminals did estes purchase.another driver said today he was told estes purchased yellow orlando terminal. i do not believe this to be true but could be wrong.
if you want to know whats really happening with the yrc terminal sale and leaseback read this article:
(estes long standing history of cooperation with yrc ? the terminals they are buying will be leased back to yrc, meaning estes gives yrc 120 million dollars to be the landlord for yrc terminals. that works out great for yrc, they stay in the terminals and pocket the cash, nice.)
Estes to Make Major Investment in Transportation Industry Real Estate
RICHMOND, Va., Feb 20, 2009 /PRNewswire via COMTEX/ -- Estes announced today that it has entered into real estate contracts with YRC Worldwide subsidiaries YRC Inc., USF Reddaway, Inc., and USF Holland Inc., to buy and simultaneously lease back facilities located throughout the U.S. The total investment could be as much as $122 million. This move gives Estes the ability to grow its investment network of real estate properties.
Estes and YRC have a long-standing history of cooperation in the less-than-truckload (LTL) arena. The YRC logistics business unit uses Estes as a transportation service provider for its clients in the ordinary course of business. "We have also worked with YRC over the years on many real estate transactions that have included the buying, selling and leasing of properties, which is common practice in the LTL industry," said Estes' Director of Real Estate and Economic Development, Angela Maidment. "This is a continuation of that mutually beneficial relationship, and now is a great time for us to make this kind of long-term investment."
About Estes
Richmond, VA-based Estes is a full-service transportation provider offering coast-to-coast North American coverage. Founded in 1931 by W.W. Estes, the company is still owned and operated by the Estes family. During the past 78 years, Estes has grown from a small, local carrier into one of the most respected multiregional LTL transportation systems in the country. With a network of terminals nationwide, the company offers direct service to all 50 states, Puerto Rico and the Caribbean, all 10 Canadian provinces and virtually all of Mexico. More information about Estes' core services and coverage network is conveniently available on .
For further information, contact Paula E
SOURCE Estes
Copyright (C) 2009 PR Newswire. All rights reserved
Your sh**ty OR just went up congratulations
Am I missing something here Estes buys a bunch of property and they are taking over the ltl industry?
I've heard it was 26 terminals. I haven't heard which ones. I'm sure we bought terminals in locations we're hoping to add a location to the system or in places where even during normal freight levels, can't handle the amount of freight. It wouldn't make too much sense to buy a terminal in a city where we have a larger terminal, unless we're buying it strictly for the value of the land. Just my 2 cents, there's lots smarter people out there than I. :smilie_132:
For 30 million more Estes could've bought the outstanding stock shares.