imported_rickroadway
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here is another article from jan 2009 about the sale and leaseback of 150million worth of terminals to NATMI. they are excess capacity YRC will end up with more terminals than either Roadway or Yellow had prior to the merger. the sales are excess capacity, yes to generate cash to pay debt. with this money and 300million in wage givebacks etc YRC will have over ONE Billion Dollars in " operating Efficiency " (CASH) this year alone. LOOKOUT!!!
St. Louis Business Journal
YRC also announced that it entered into a sale-leaseback contract of a pool of the company’s facilities with NATMI Truck Terminals LLC.
The purchase price for the facilities was approximately $150.4 million with initial annual lease payments of $21.1 million.
The deal is expected to generate additional cash for the company, which currently holds more than $250 million in cash.
YRC Worldwide Completes First Phase of Financing Transaction
- Receives $101 Million of Cash Proceeds
OVERLAND PARK, Kan., Jan 30, 2009 /PRNewswire-FirstCall via COMTEX/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it has closed the first part of the sale and financing leaseback transaction from a contract with NATMI Truck Terminals, LLC ("NATMI") entered on December 19, 2008. The company received approximately $101 million of proceeds today and expects to receive approximately $50 million more in the second closing. Details of the transaction were provided in a Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on December 24, 2008.
St. Louis Business Journal
YRC also announced that it entered into a sale-leaseback contract of a pool of the company’s facilities with NATMI Truck Terminals LLC.
The purchase price for the facilities was approximately $150.4 million with initial annual lease payments of $21.1 million.
The deal is expected to generate additional cash for the company, which currently holds more than $250 million in cash.
YRC Worldwide Completes First Phase of Financing Transaction
- Receives $101 Million of Cash Proceeds
OVERLAND PARK, Kan., Jan 30, 2009 /PRNewswire-FirstCall via COMTEX/ -- YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it has closed the first part of the sale and financing leaseback transaction from a contract with NATMI Truck Terminals, LLC ("NATMI") entered on December 19, 2008. The company received approximately $101 million of proceeds today and expects to receive approximately $50 million more in the second closing. Details of the transaction were provided in a Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on December 24, 2008.