Celadon Group sells flatbed division to PS Logistics

INDIANAPOLIS, IN - The Celadon Group has sold all the assets in its flatbed trucking division to PS Logistics. The company announced the completion of the disposition of assets Sept. 18, as part of a strategic plan to concentrate resources on other business lines and boost returns. Assets included in the transaction were primarily leased and owned trailers, which were sold in exchange for an assumption or satisfaction of the lease obligations and cash, Celadon said. It is also entitled to post-closing goodwill payments.