INDIANAPOLIS, Sept. 20, 2017 /PRNewswire/ -- Celadon Trucking
will exit its three Celadon Driving Academy (CDA) locations in
Indianapolis, Laredo and
Richmond later this year.
One of Celadon's third-party driving school partners plans to
establish accredited driving schools at each of the three
locations. Celadon will continue to need new drivers and has
determined that a third-party model is a more effective way to hire
new drivers. Most trucking companies that deliver freight
over the road use a network of accredited driving schools to source
new drivers for their fleets.
President and Chief Operating Officer, Jon Russell commented: "Highly qualified
professional truck drivers are the lifeblood of our
organization. We recruit and train thousands of drivers each
year and constantly evaluate the optimal mix of experienced
drivers, student drivers, and driver trainers. After a
thorough review, we determined that using third-party programs and
making additional investments in driver compensation and advanced
training would afford a better investment of resources than
continuing to operate the schools ourselves. We are trucking
specialists, and we will focus on our core business."
"Celadon is strongly committed to the Celadon Trucking business
units (dry van, refrigerated, intermodal, and dedicated) as well as
our Celadon Logistics, A&S, and other operations," continued
Russell. "I'm excited at the progress we continue to make in
restoring Celadon's status as a premium truckload and logistics
provider."
Russell added, "We are committed to helping every CDA employee
in their career transition. One of Celadon's third-party
driving school partners has expressed interest in hiring many of
our associates for their soon-to-be established school here in
Indianapolis as well as
Richmond and Laredo. In
addition, we have open jobs within Celadon for which they can
apply.
About Celadon
Celadon Group, Inc. (NYSE: CGI), through its subsidiaries,
provides long-haul, regional, local, dedicated, intermodal,
temperature-protect, and expedited freight service across the
United States, Canada, and Mexico. The company also
owns Celadon Logistics Services, which provides freight brokerage
services, freight management, as well as supply chain management
solutions, including warehousing and distribution.
This press release contains certain statements that may be
considered forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, and such
statements are subject to the safe harbor created by those sections
and the Private Securities Litigation Reform Act of 1995, as
amended. Such statements may be identified by their use of terms or
phrases, including "expects," "expected," "will," "would be,"
"intends," "goal," "believes," and similar terms and phrases.
Forward-looking statements are based upon the current beliefs and
expectations of our management and are inherently subject to risks
and uncertainties, some of which cannot be predicted or quantified,
which could cause future events and actual results to differ
materially from those set forth in, contemplated by, or underlying
the forward-looking statements. In this press release,
statements relating to post-closing goodwill payments, the
purchaser's post-closing actions with respect to drivers and
assumption of contracts, our strategic plan, achievement of our
improvement initiatives, the freight marketplace, and the
refinancing of our capital structure, among others, are
forward-looking statements. Actual results may differ from
those set forth in the forward-looking statements. Readers
should review and consider factors that could impact results as
provided in various disclosures by the Company in its press
releases, stockholder reports, and filings with the Securities and
Exchange Commission.
For more information:
Joe
Weigel
Director of Communications
(317) 972-7006 Direct
jweigel@celadongroup.com
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SOURCE Celadon