Teamsters, YRCW Approve Key Component in Restructuring Plan

Teamsters General President Hoffa and The Teamsters National Freight Industry Negotiating Committee announce further positive momentum in the restructuring plan to protect 25,000 Teamster freight jobs at YRC Worldwide, Inc. (NASDAQ: YRCW).

TNFINC, along with lenders and YRCW, has approved final terms for an asset-based lending facility, which will provide part of the necessary ongoing operational liquidity for the company. The placement of this facility is a key component of the restructuring and pre-condition to closing the transaction.

As a result of finalizing the terms of the facility, YRCW filed an amended Form S-1 with the SEC earlier today.