YRC Worldwide Inc. today announced it sold a significant portion of the assets of its Glen Moore truckload operating subsidiary to Celadon Trucking Services, Inc., a subsidiary of Celadon Group Inc., one of North America's largest truckload carriers. Specific terms of the agreement were not disclosed.
"Less-than-truckload shipping is what we do best. Our efforts are precisely focused on regaining the North American market leader position in that segment," said James Welch, chief executive officer for YRC Worldwide, referring to the 220 years of combined big-shipment experience among YRC legacy brands. Welch went on to add, "To be the best LTL carrier, we must concentrate on operational excellence that delivers flexible, efficient transportation solutions with timeliness and predictability. This transaction helps us do that by simplifying our portfolio and streamlining our operations while still offering truckload services to interested customers through our provider relationships."
"This is an exciting opportunity for Celadon," said Paul Will, vice chairman, president and chief operations officer, Celadon Group. "Glen Moore is recognized as an award-winning truckload service provider with leading edge technologies. Its national, regional and dedicated fleet services augment our existing expertise, adding to our scale and accelerating our growth."