Celadon Group has swallowed, whole or in part, nine trucking firms in as many years. But the acquisition momentum lurched to a halt late this month like a semi stopped by a runaway-truck ramp when it was rebuffed by Arkansas-based USA Truck. Since then, Celadon hasn’t signaled its next move.
Celadon Group Inc.’s first-quarter profit grew nearly 23 percent, to $5.4 million, or 24 cents a share, on revenue of $141.5 million.
USA Truck Inc. has turned down a meeting with Indianapolis-based trucking rival and investor Celadon Group Inc. to discuss a possible merger.
CEO Steve Russell attributed the improved earnings to a recovering freight environment, coupled with a decrease in
competition. Celadon also is benefiting from increased trade with Mexico.
The Indianapolis-based trucking company saw profit rise to $400,000 in its third quarter from a $2.1 million loss in the same
Celadon CEO Stephen Russell faced a treacherous patch of highway when fuel prices spiked and the recession drove the
trucking industry into an economic Death Valley. In IBJ's new video feature on leadership issues, Russell explains
how advice from his dentist helped pave the way to recovery.
Kenneth Core, who referred to himself in letters and electronic correspondence as Celadon Group’s general counsel, cannot practice law in Indiana until he receives a state law license, the Indiana Supreme Court said.