Journal of Commerce--Old Dominion Freight Line on Monday combined several existing business units to launch a carrier “neutral” third-party logistics provider, Vault Logistics.

The 3PL subsidiary gives ODFL an opportunity to pursue its expansion beyond the less-than-truckload market into new areas of transportation management. The portfolio of the new division includes warehousing, dedicated carriage and warehousing, logistics services and truckload brokerage, ODFL said.

The $1.5 billion LTL carrier named Michael Venegoni, a former group vice president at YRC Worldwide and vice president YRC Logistics, president of Vault.
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