Celadon Trucking Services, Inc Announces Acquisition of Selected Equipment Assets from USA Dry Van
INDIANAPOLIS--(BUSINESS WIRE)-- Celadon Trucking Services, Inc., a wholly-owned subsidiary of Celadon Group, Inc. (NYSE:CGI) announced today that it has agreed to purchase a portion of the operating equipment of USA Dry Van Logistics, LLC, based in McAllen, TX. The terms and conditions of the transaction were not disclosed. Celadons approach is to increase its density in its primary traffic lanes between the US and Mexico and reinforce its driver pool. USA Dry Van is a significant provider of cross border shipments of goods between Mexico and the United States, which enables Celadon to fulfill one of its primary goals of increasing its freight volumes and lane density in its primary freight lanes.
USA Dry Van is a leading truckload carrier with respect to cross-border shipments between the US and Mexico, stated Paul Will, President and COO. Their footprint has tremendous potential to supplement the existing cross-border expertise for which Celadon is known and further accelerates our overall growth plans. Our companies also share a very similar, overlapping customer account base. As we have stated with previous acquisitions, we expect to assimilate many of these customers, as well as a portion of the USA Dry Van driver pool, within our operations efficiently and further improve asset productivity. We believe we can enhance the service to many of USA Dry Vans former customers through upgraded equipment, advanced technology, additional assets available for dispatch, and an industry leading safety record."
Celadon Group Inc. (www.celadongroup.com), through its subsidiaries, provides long-haul and regional full-truckload freight service across the United States, Canada and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage services, less-than-truckload services, as well as supply chain management solutions, including warehousing and dedicated fleet services.
Celadon Group, Inc. (CGI)
Jeryl Desjarlais, Communications Manager, 317-972-7070
(800) CELADON Ext. 7070
Source: Celadon Group, Inc.Copyright Business Wire 2012