YRC Sells Truckload Assets to Celadon
YRC Worldwide said late Thursday it has sold “a significant portion” of the assets of its truckload unit YRC Glen Moore to truckload carrier Celadon Group.
YRC Glen Moore unit lost $10.3 million through the first three quarters of 2011, with a 113.4 operating ratio. Sales totaled $76.7 million.
YRC did not release the terms or any details of the transaction.
“Less-than-truckload shipping is what we do best,” said James Welch, YRC Worldwide’s CEO. “Our efforts are precisely focused on regaining the North American market leader position in that segment.”
“This is an exciting opportunity for Celadon,” said Paul Will, Celadon’s president and chief operations officer. “Glen Moore is recognized as an award-winning truckload service provider with leading-edge technologies.”
YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers, and Celadon is No. 42.
