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Celadon Buys Air Road Express |
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Truckload carrier Celadon Group said Tuesday it has purchased the truckload business of Indianapolis-based carrier Air Road Express.
Terms were not released in the deal, in which Celadon bought certain tractors and trailers of the company. Air Road will continue to provide asset based logistics services with its less-than-truckload and warehousing operations.
Air Road generated about $26 million in revenue last year from its truckload operations, including fuel surcharges.
“Air Road has been a long-haul carrier and its lane flow compliments our network,” said Steve Russell, Celadon chairman and chief executive officer. He said the company expects the operations to be folded into Celadon’s financials starting in the third quarter.
Celadon is ranked No. 58 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
By Transport Topics
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