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.



For the full story, see the Jan. 24 print edition of Transport Topics. Subscribe today.

 

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