News
Celadon refinancing amid SEC investigation
INDIANAPOLIS, IL - The Celadon Group continues to restructure its assets in an attempt to create more liquidity, while it is being investigated by the Securities and Exchange Commission (SEC). The company, which owns Celadon Trucking and Celadon Logistics, as well as other subsidiaries, announced this morning that as part of the continuing implementation of its new strategic plan, it has refinanced its revolving credit and extended equipment leases that were maturing in 2018. Celadon's short-term revolving credit restructuring was done through Bank of America, and has a maturity date at the end of fiscal 2017. In addition it received US $22.6 million in equipment term loans secured by existing tractors and trailers used in their Hyndman subsidiary.
CAT shocks market with SLH acquisition
KINGSTON, ON - CAT Holding has made another acquisition. The truckload carrier has purchased Kingston, Ontario-based SLH Transport, it announced today. This is the second acquisition for CAT in 2017, with the company purchasing Group Express Groupex in January. CAT President Daniel Goyette says the group will gain an enormous boost in capacity and coverage for North America with the addition of both companies. SLH -- at one time a private fleet operated specifically for Sears department stores, before becoming a for-hire operation -- was previously named to the 13th position of Today's Trucking's Top 100 carriers list.
Automatic grease jockey smooths the way for uptime
ATLANTA, GA - Dan Jensen admits that talking grease isn't sexy. The global product marketing manager for Graco was at the North American Commercial Vehicle Show to promote the latest in the company's line of automatic lubrication pumps, and said that the crowds he often speaks to at trade shows are small, because grease just isn't as fun a topic as shiny new trucks or tires. In the end though, grease is what makes everything go.
