Celadon Group has swallowed, whole or in part, nine trucking firms in as many years. But the acquisition momentum lurched to a halt late this month like a semi stopped by a runaway-truck ramp when it was rebuffed by Arkansas-based USA Truck. Since then, Celadon hasn’t signaled its next move.
USA Truck Inc. has turned down a meeting with Indianapolis-based trucking rival and investor Celadon Group Inc. to discuss a possible merger.
Indianapolis-based Celadon has become USA Truck’s seventh-largest investor with a $4.7 million purchase of shares. In a regulatory filing, the truckload carrier reported its interest in combining with its rival.
Celadon Group Inc. improved revenue and profit in its third fiscal quarter despite lower volumes attributed to bad weather, the Indianapolis-based trucking company said Tuesday.
Allison Transmission is not a household name like Google or General Motors, but it won’t lack an audience for its planned $750 million initial public offering.
Regulations aimed at stopping invasive species are too stiff.
Companies that act as brokers for trucking services are gaining favor with investors as the 20-month-old rebound shifts into a new phase that’s less dependent on inventory restocking.
The Indianapolis-based trucking company reported revenue of $133.1 million, up 4.6 percent from the same quarter of 2009. Profit rose to $2.9 million from $1 million.
A study by the Council of Supply Chain Management Professionals estimates that the trucking industry needs to hire 200,000 more drivers this year, but some driver-training schools locally say many potential students don’t have the $3,000-to-$5,000 or more for tuition.
Greenfield trucking company buys 794 trailers from Toronto-based Vitran Corp. for about $5 million to bolster operations.
The Indianapolis-based trucking company reported revenue of $140.3 million for the fiscal first quarter and profit of $4.4 million.
CEO Steve Russell attributed the improved earnings to a recovering freight environment, coupled with a decrease in
competition. Celadon also is benefiting from increased trade with Mexico.
The Indianapolis-based trucking company saw profit rise to $400,000 in its third quarter from a $2.1 million loss in the same
period
last year.
Celadon CEO Stephen Russell faced a treacherous patch of highway when fuel prices spiked and the recession drove the
trucking industry into an economic Death Valley. In IBJ's new video feature on leadership issues, Russell explains
how advice from his dentist helped pave the way to recovery.
The two-year study by the Conexus Indiana Logistics Council Executive Committee involved 36 logistics executives statewide.
Logistics companies have found the last few years an unparalleled challenge. If it wasn’t higher fuel prices, it was softening
business in key sectors, such as the automotive industry. Fewer goods to move created overcapacity and softened rates.
The Indianapolis trucking firm is not among the weaklings and, if anything, will benefit from additional fleet
failures to the
extent it diminishes industry capacity.
Indianapolis trucking firm Celadon Group Inc. saw revenue rise to $127.2 million in its fiscal second quarter, although profit
fell to $1 million.
The minority-owned logistics firm is also involved in a legal battle with a Washington state firm over the loss of its Boeing
business.
Two semi-trailers of the medication were stolen in 2007 from a back lot at Daum Trucking, which isn’t named in the lawsuit.
Bristol-Myers charges MD Logistics with negligence in the $10.7 million suit.
