Indianapolis-based trucking company Celadon Group Inc. topped Wall Street expectations with big increases in quarterly revenue and profit.
Indianapolis-based Celadon Group Inc. has acquired the truckload business assets of Tango Transport LLC, a Shreveport, Louisiana-based transportation company, Celadon announced Wednesday night.
Celadon Group Inc. saw profit increase 21.2 percent in its latest quarter as revenue climbed 10.5 percent, the Indianapolis-based trucking firm announced Wednesday.
Average driver wages may rise as much as 6 percent in 2014, said Kenny Vieth, president of Columbus, Indiana-based Americas Commercial Transportation Research Co.
Stoops Freightliner, an Indianapolis truck and trailer dealer, has agreed to sell to a larger dealership after more than 25 years in business. Owner Jeff Stoops grew it into a $323 million firm with 563 employees.
The trucking firm launched its in-house truck-driving school a year ago to boost the supply of drivers and, executives hope, cut down on turnover, which is 98 percent per year at the company, mirroring the industry average.
New U.S. safety regulations requiring truckers to work shorter shifts may cut productivity, worsen a driver shortage and boost freight costs for the $8.4 trillion in goods hauled each year by American big rigs.
The Indianapolis-based trucking firm first announced plans for the driver-education center in January, but has since expanded the project and employment projections while seeking state incentives.
The Indianapolis-based trucking carrier plans to build a $5.25 million driver-training center and add 182 jobs as part of its latest expansion at its east-side corporate campus.