SCS Transportation Inc., a Kansas City, Mo. transportation company, has announced that public trading of the company's common stock began this week on the NASDAQ National Market,
following completion of the tax-free spin-off of SCS Transportation on Monday to shareholders of Yellow Corp.
"We are very excited about our future prospects," said Bert Trucksess, an 18-year industry veteran and the company's chairman, president and chief executive officer. "The spin-off allows the company greater freedom to further its growth strategies and provides investors greater visibility into our regional less-than-truckload business."
Trucksess added: "As a well-capitalized, independent company, we will drive shareholder value by delivering best-in-class service solutions through our operating brands, Saia and Jevic, to our customers throughout the United States."
Shares of SCS Transportation will trade under the ticker symbol SCST. In the spin-off, Yellow Corp. shareholders as of the Sept. 3, 2002 record date received one SCST share for each two shares of Yellow they owned. The stock distribution was completed on Monday.
Financial information on SCS Transportation was disclosed in an information statement on Form 10 filed with the Securities and Exchange Commission and mailed to shareholders eligible for the distribution. Corporate information is available at www.scstransportation.com.