Celadon Trucking Services, Inc., a wholly-owned subsidiary of Celadon Group, Inc. (NYSE: CGI), announced today that it has purchased a significant portion of the operating equipment of Teton Transportation, Inc. (“Teton”), based in Knoxville, TN. The deal includes the purchase of approximately 180 tractors and 280 trailers for an undisclosed figure.
“We are excited with the Teton acquisition, as it fits well within the strategy we have executed during similar acquisitions over the last few years. As with previous acquisitions, our goals are to continue to broaden our customer base with quality customers, add density in our primary traffic lanes, and gain experienced drivers,” stated Paul Will, President and COO. “Based on our evaluation of the business, we believe Teton had a solid, core group of quality customers and drivers. We expect to integrate and optimize these customers and drivers within our operations promptly and further improve asset productivity. We believe we can enhance the service to Teton’s former customers through an upgraded equipment fleet, excellent technology, more available assets for dispatch, and an outstanding safety record. We expect the acquired operations to be accretive beginning in the June 2012 quarter.”
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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV