12/15/2011 4:30:00 PM
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Larry Smith/Trans Pixs
YRC Worldwide said late Thursday it has sold â€œa significant portionâ€� 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.
â€œLess-than-truckload shipping is what we do best,â€� said James Welch, YRC Worldwideâ€™s CEO. â€œOur efforts are precisely focused on regaining the North American market leader position in that segment.â€�
â€œThis is an exciting opportunity for Celadon,â€� said Paul Will, Celadonâ€™s president and chief operations officer. â€œGlen Moore is recognized as an award-winning truckload service provider with leading-edge technologies.â€�
YRC is ranked No. 4 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers, and Celadon is No. 42.
Â© 2011, Transport Topics Publishing Group. All rights reserved.
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