-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BDbYK1ak4yXnjMJm5SZJStKqHyyJ1o21bwqsTDc/TAchpNVVzrWAx4MFXJTSNEyA VAsSfEA5SM1VjD81kUo3Eg== 0001193125-09-146046.txt : 20090709 0001193125-09-146046.hdr.sgml : 20090709 20090709060126 ACCESSION NUMBER: 0001193125-09-146046 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090708 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090709 DATE AS OF CHANGE: 20090709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: YRC WORLDWIDE INC CENTRAL INDEX KEY: 0000716006 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 480948788 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-12255 FILM NUMBER: 09936016 BUSINESS ADDRESS: STREET 1: ATTN: FINANCIAL REPORTING MANAGER - A415 STREET 2: 10990 ROE AVENUE CITY: OVERLAND PARK STATE: KS ZIP: 66211 BUSINESS PHONE: 9136966100 MAIL ADDRESS: STREET 1: ATTN: FINANCIAL REPORTING MANAGER - A415 STREET 2: 10990 ROE AVENUE CITY: OVERLAND PARK STATE: KS ZIP: 66211 FORMER COMPANY: FORMER CONFORMED NAME: YELLOW ROADWAY CORP DATE OF NAME CHANGE: 20031212 FORMER COMPANY: FORMER CONFORMED NAME: YELLOW CORP DATE OF NAME CHANGE: 19930506 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) July 8, 2009

 

 

YRC Worldwide Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-12255   48-0948788

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

10990 Roe Avenue, Overland Park, Kansas 66211

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (913) 696-6100

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 7.01. Regulation FD Disclosure

On July 8, 2009, YRC Worldwide Inc. issued a news release to provide an update on its comprehensive plan to realize efficiencies from the YRC integration, restore financial strength and position its operating companies for future success. A copy of the news release that contains the update is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits

 

Exhibit
Number

 

Description

99.1   News Release dated July 8, 2009.

 

2


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  YRC WORLDWIDE INC.
Date: July 9, 2009   By:  

/s/    Sheila K. Taylor

    Sheila K. Taylor
    Vice President – Investor Relations and Treasurer

 

3


EXHIBIT INDEX

 

Exhibit

Number

 

Description

99.1   News Release dated July 8, 2009.

 

4

EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

LOGO

July 8, 2009

YRC Worldwide Provides Update on Comprehensive Plan

• Plan includes continued work with outside advisors

OVERLAND PARK, KAN. – YRC Worldwide Inc. (NASDAQ: YRCW) announced today additional progress in its comprehensive plan to realize efficiencies from the YRC integration, restore financial strength, and position its operating companies for future success.

The progress report includes updates on five key areas:

 

 

Network re-engineering – In March 2009, the company took a trailblazing step forward by integrating the Yellow Transportation and Roadway networks into YRC. The move created the most comprehensive LTL network in North America, allowing the company to reduce facilities and costs, while enhancing services.

 

 

Continued support from lender group – Last month the company announced an amendment to its bank agreement to provide for the immediate release of escrow funds generated from the company’s prior asset sales to pay down the revolving credit facility without reducing the company’s borrowing availability under the facility.

 

 

Pension fund progress – YRC Worldwide announced an agreement last month with Central States, Southeast and Southwest Areas Pension Fund (“Central States”), the largest of the company’s International Brotherhood of Teamsters (“IBT”) multi-employer defined benefit pension funds, to provide certain of the company’s real estate as collateral in lieu of pension contribution payments during the second quarter for a deferral of $83 million. Since the announcement, seven additional funds have joined as participants in the same agreement for a deferral of an additional $11 million. The company continues discussions with its remaining IBT multi-employer pension funds.

 

 

Teamsters discussions – The company is continuing face-to-face discussions with the IBT this week seeking to modify the terms of the current labor agreement for its employees covered by the National Master Freight Agreement. The discussions remain productive.

 

 

Retention of advisors – YRC Worldwide retained financial advisors several months ago, including Tenex Capital Management, Alvarez and Marsal and Rothschild Inc., to assist in formulating its comprehensive strategic plan to address its capital structure and liquidity needs. In this regard, Rothschild has initiated preliminary discussions with several significant holders of the company’s debt securities.


“We can’t control the economic environment, but we certainly can and are controlling our response to it,” said Bill Zollars, Chairman, President and CEO of YRC Worldwide. “Our self-help recovery plan is proactive and has the support of our stakeholders. We are taking the steps needed to manage our plan today, and position our company for success as the economy recovers.”

YRC Worldwide is finalizing the date for its second quarter earnings and expects to announce the date within the next week.

* * * * * 

YRC Worldwide Inc., a Fortune 500 company and one of the largest transportation service providers in the world, is the holding company for a portfolio of successful brands including YRC, YRC Reimer, YRC Logistics, New Penn, Holland, Reddaway and YRC Glen Moore. Building on the strength of its heritage brands, Yellow Transportation and Roadway, the enterprise provides global transportation services, transportation management solutions and logistics management. The portfolio of brands represents a comprehensive array of services for the shipment of industrial, commercial and retail goods domestically and internationally. Headquartered in Overland Park, Kansas, YRC Worldwide employs approximately 49,000 people.

 

Investor Contact:    Sheila Taylor    Media Contact:   Suzanne Dawson   
   YRC Worldwide Inc.      Linden Alschuler & Kaplan   
   913.696.6108      212.329.1420   
   sheila.taylor@yrcm.com      sdawson@lakpr.com   
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-----END PRIVACY-ENHANCED MESSAGE-----