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: October 18, 2002
(Date of earliest event reported)
USFREIGHTWAYS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-19791 36-3790696
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation or organization) Identification Number)
8550 West Bryn Mawr Avenue, Suite 700, Chicago, Illinois 60631
(Address of principal executive offices) (Zip Code)
(773) 824-1000
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Item 5. Other Events.
On October 18, 2002, USFreightways Corporation ("USF") announced that GPS
Logistics, Inc. and Seko Worldwide Acquisition LLC have agreed to acquire USF
Worldwide Inc. and USF Worldwide Logistics (UK) Ltd., USF's freight forwarding
subsidiaries. The transaction is expected to close on or before October 31,
2002.
Item 7. Exhibits.
The following is filed as an exhibit to this report.
Exhibit Description
Number
99 News Release, dated October 18, 2002.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this Current Report to be signed on its behalf by
the undersigned hereunto duly authorized.
USFREIGHTWAYS CORPORATION
By:/s/ Christopher L. Ellis
________________________
Christopher L. Ellis
Senior Vice President, Finance
and Chief Financial Officer
Date:October 18, 2002
EXHIBIT 99
FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION CONTACT:
FRIDAY, OCTOBER 18, 2002 CHRIS ELLIS 773.824.2205
USFreightways Exits Freight Forwarding Business
Chicago ... USFreightways Corporation (NASDAQ USFC) announced today that GPS
Logistics, Inc. and Seko Worldwide Acquisition LLC have agreed to acquire USF
Worldwide Inc. and USF Worldwide Logistics (UK) Ltd., USF's freight forwarding
subsidiaries. It is expected the transaction will close on or before October 31,
2002. Terms of the contract were not disclosed, but will be discussed in the
Company's 3rd Quarter conference call, the date of which will be announced
shortly.
"Since early in the 3rd Quarter when we announced our decision that the
freight forwarding segment did not fit our business strategy, we have been
seeking an arrangement that would bring this portion of USF's history to a
conclusion," said Samuel K. Skinner, USFreightways' Chairman, President and
Chief Executive Officer. "This agreement will free USFreightways to concentrate
on the growth and profitability of its core LTL, TL and logistics operations."
This release is an effort to enhance communication and provide guidance on the
ongoing quarter within the guidelines of Regulation FD. It contains
forward-looking statements that are subject to certain risks and uncertainties
that could cause actual results to differ materially. These risks and
uncertainties are detailed from time to time in reports filed by the Company
with the Securities and Exchange Commission including forms 8K, 10Q and 10K.
USFreightways (NASDAQ: USFC) provides comprehensive supply chain management
services, including high-value next-day, regional and national
less-than-truckload (LTL) transportation, logistics, and premium regional and
national truckload transportation. For more information, contact the Company at
www.usfreightways.com.