Celadon Group, Inc. (Celadon), incorporated on July 24, 1986, is a truckload freight transportation provider. The Company's segments are asset-based, asset-light, and equipment leasing and services. Its services involve point-to-point shipping for its customers within the United States, between the United States and Mexico, and between the United States and Canada. The Company's primary asset-based services include the United States domestic dry van, refrigerated and flatbed service; cross-border service between the United States and each of Mexico and Canada; intra-Mexico and intra-Canada service; contract service; regional and specialized short haul service, and rail intermodal service. The Company's primary asset-light services include freight brokerage, warehousing, less-than truckload consolidation and supply chain logistics services. Through its Quality Companies subsidiaries, the Company provides tractor leasing and ancillary services to owner-operators who contract with it or with other trucking companies. Celadon's equipment leasing and services segment consists primarily of leasing activities with independent contractors and other trucking fleets. The equipment leasing and services segment also focuses on insurance, maintenance and other ancillary services that it provides for, or makes available to, independent contractors. The Company provides warehousing and dedicated trucking services through Celadon Dedicated Services. It also transports the manufacturing component parts to its warehouses and sequences those parts for its customers. It transports completed units from its customer's plants. It also offers less-than-truckload, intermodal and refrigerated services to its customers. As of June 30, 2016, the Company operated 5,547 tractors and 15,369 trailers. The Company's primary transportation subsidiaries include Celadon Trucking Services, Inc.; Celadon Logistics Services, Inc.; Servicio de Transportation Jaguar, S.A. de C.V., and Celadon Canada, Inc.
On the rise today. I see a double from $4 if they are successful at restructuring of debt. By EOY that is.
Looks like the new chief is getting leaner and more efficient. Not sexy, but steadily moving up. Celadon Group Completes Disposition of Flatbed Division PR NewswireSeptember 18, 2017 INDIANAPOLIS, Sept. 18, 2017 /PRNewswire/ -- Celadon Group, Inc. ("Celadon" or the "Company" (CGI) today announced that it has completed the disposition of substantially all assets associated with its flatbed trucking division (the "Flatbed Division" to a subsidiary of PS Logistics, LLC. Financial terms were not disclosed.'>INDIANAPOLIS, Sept. 18, 2017 /PRNewswire/ -- Celadon Group, Inc. ("Celadon" or the "Company") (CGI) today announced that it has completed the disposition of substantially all assets associated with its flatbed trucking division (the "Flatbed Division") to a subsidiary of PS Logistics, LLC. Financial terms were not disclosed. The Flatbed Division assets included in the transaction consisted primarily of leased and owned trailers, which were sold in exchange for an assumption or satisfaction of the lease obligations and cash, respectively. Celadon is also entitled to certain post-closing goodwill payments. In addition, the purchaser will enter into contracts covering up to 100 independent contractor flatbed drivers, hire certain flatbed company drivers and operations employees, and assume certain customer contracts associated with the Flatbed Division. Paul Svindland, Celadon's Chief Executive Officer, commented: "Under the strategic plan adopted over the past 30 days, our goal is to concentrate our resources on core business lines where we add value to customers and have the opportunity to generate acceptable returns over time. In our portfolio of companies, several are high performers with steady business levels and cash flow, and include dedicated, warehousing and logistics, regional, and other value-added services. Our historical Celadon irregular route NAFTA-focused truckload business ("CTSI" has had a difficult year from a profitability perspective but offers a strong niche with longstanding customer relationships. Our new management team determined that we had neither the expertise nor the critical mass to compete in the flatbed sector. Accordingly, we were pleased to offer our people and customers a good home with one of the largest and most successful flatbed operators in the U.S. The remaining CTSI business is undergoing an intense improvement phase with multiple initiatives taking hold into a rapidly improving freight marketplace. We expect to continue to execute on our strategic plan as we seek to refinance our capital structure."">Paul Svindland, Celadon's Chief Executive Officer, commented: "Under the strategic plan adopted over the past 30 days, our goal is to concentrate our resources on core business lines where we add value to customers and have the opportunity to generate acceptable returns over time. In our portfolio of companies, several are high performers with steady business levels and cash flow, and include dedicated, warehousing and logistics, regional, and other value-added services. Our historical Celadon irregular route NAFTA-focused truckload business ("CTSI") has had a difficult year from a profitability perspective but offers a strong niche with longstanding customer relationships. Our new management team determined that we had neither the expertise nor the critical mass to compete in the flatbed sector. Accordingly, we were pleased to offer our people and customers a good home with one of the largest and most successful flatbed operators in the U.S. The remaining CTSI business is undergoing an intense improvement phase with multiple initiatives taking hold into a rapidly improving freight marketplace. We expect to continue to execute on our strategic plan as we seek to refinance our capital structure." Scott Smith, Chief Executive Officer of PS Logistics. "We look forward to working with their great flatbed drivers and operations group."">"We are proud to welcome Celadon's Flatbed Division to the PS Logistics family," said Scott Smith, Chief Executive Officer of PS Logistics. "We look forward to working with their great flatbed drivers and operations group." About Celadon Celadon Group, Inc. (www.celadongroup.com), through its subsidiaries, provides long-haul, regional, local, dedicated, intermodal, temperature-protect, and expedited freight service across the United States, Canada, and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage services, freight management, as well as supply chain management solutions, including warehousing and distribution.
More cost cutting measures. Profitability not too far away. Celadon's Driving Academy Locations to Be Re-Opened as Third-Party Driving Schools 9/20/17, 11:45 AM 12:45 PM EDT, 09/20/2017 (MT Newswires) -- Celadon Group (CGI), a provider of freight services, said Wednesday that Celadon Trucking will exit its three driving academy locations in Indianapolis, Laredo and Richmond later this year. One of the company's third-party driving school partners plans to establish accredited driving schools at each of the three locations. Shares were 1.3% higher in midday trade. Price: 6.58, Change: +0.08, Percent Change: +1.25 http://www.mtnewswires.com Copyright © 2017 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.
