Flatbed Carrier Ploof Purchased by Cyprus Truck Lines

Cyprus Truck Lines of Jacksonville, Fla., has purchased Ploof Truck Lines and will operate the flatbed truckload carrier as a separate business.

The transaction represents a kind of homecoming for Cyprus President David Penland Sr., who started his trucking career as a driver for Ploof in the early 1960s.

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Cyprus agreed to pay $13.5 million for the assets of Ploof, which had filed for bankruptcy protection in September ("Ploof Truck Lines Up for Sale," 9-27, p. 8).

At least two other companies had expressed interest in acquiring Ploof, according to Thad Penland, vice president of traffic for Cyprus.



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