UPDATED:
12/15/2011 4:30:00 PM
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Larry Smith/Trans Pixs
YRC Worldwide said late Thursday it has sold “a significant portion� of the assets of its truckload unit YRC Glen Moore to truckload carrier Celadon Group.
YRC Glen Moore unit lost $10.3 million through the first three quarters of 2011, with a 113.4 operating ratio. Sales totaled $76.7 million.
YRC did not release the terms or any details of the transaction.
“Less-than-truckload shipping is what we do best,� said James Welch, YRC Worldwide’s CEO. “Our efforts are precisely focused on regaining the North American market leader position in that segment.�
“This is an exciting opportunity for Celadon,� said Paul Will, Celadon’s president and chief operations officer. “Glen Moore is recognized as an award-winning truckload service provider with leading-edge technologies.�
YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers, and Celadon is No. 42.
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