May 24, 2005 3:00 PM, EDT

Landstar System Replaces USF on Dow Jones Transport Index

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andstar System Inc. replaced USF Corp. as a component of the Dow Jones Transportation index as of close of business Monday, Dow Jones said.

USF's stockholders voted Monday to approve the less-than-truckload carrier’s acquisition by Yellow Roadway Corp., in a $1.37 billion deal that closed Tuesday.

andstar Chief Executive Officer Henry Gerkens told CNBC Tuesday the company was "delighted" to be made part of the benchmark transportation component, which tracks 20 U.S. transportation stocks.

Landstar does not own trucks or employ drivers; instead, the company uses a network of independent drivers.

Landstar is ranked No. 15 in the Transport Topics listing of U.S. and Canadian for-hire drivers. Yellow Roadway is No. 3 and USF is No. 12. Rankings are based on company revenue.