“There is much to look forward to with the new framework agreement, and we are of course pleased that our employees have accepted by approving the national agreement and the associated national economic package. The new contract supports a more competitive compensation and benefits package for our employees while enhancing our ability to provide reliable and efficient service to our customers,” said Darren Hawkins, YRCW`s President and CEO. OVERLAND PARK, Kansas, May 06, 2019 (GLOBE NEWSWIRE) — YRC Worldwide (NASDAQ: YRCW) (the “Company”) announced today that employees of three of our operating companies – YRC Freight, Holland and New Penn Motor Express – represented by the International Brotherhood of Teamsters and covered by the National Freight Framework Agreement (NMFA) – have overwhelmingly approved a new five-year framework agreement and a set of national economic measures. which is probably a record turnout for the national treaty. choose. This was an important next step in this process, where only a small additional agreement had to be resolved before the entire contract came into effect. We will endeavor to settle the last remaining localized addition before the expiration of our current contract extension until May 31, 2019. The company will describe the main benefits of the employment contract during its conference call on May 8, 2019. Please visit our website at www.yrcw.com for more information. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “will”, “should”, “anticipates”, “expects”, “believes”, “intends” and similar expressions are intended to identify forward-looking statements.
Forward-looking statements are inherently uncertain and are subject to significant risks, uncertainties and contingencies related to business, economics, competition, regulation and other known and unknown risks, many of which are beyond the Company`s control. It is important to note that the achievement of operational efficiency and the improvement of customer service that we anticipate may be subject to a number of factors, including (but not limited to) the risk factors included from time to time in the Company`s reports filed with the SEC, including the Company`s reports on Forms 10-K and 10-Q. This will be business as usual for our businesses as we focus on providing our customers with the service they need,” Hawkins said. The contract includes a comprehensive set of salaries and benefits and operational efficiency opportunities “YRC Worldwide is supported by the most professional and experienced employees in the industry. I want to thank each and every one of our employees for their hard work and dedication. We will continue discussions with IBT and staff to quickly reach a fully approved agreement,” concluded Mr. Hawkins. YRC Worldwide Inc., headquartered in Overland Park, Kansas, is the holding company for a portfolio of LTL companies, including Holland, New Penn, Reddaway and YRC Freight, as well as logistics company HNRY Logistics.
Overall, YRC Worldwide`s businesses have one of the largest and most comprehensive logistics and LTL networks in North America with local, regional, national and international capabilities. Through its teams of experienced service professionals, YRC Worldwide provides companies with cutting-edge expertise in flexible supply chain solutions to ensure customers can ship industrial, commercial and retail products with confidence. .