INDIANAPOLIS, Sept. 20, 2017 /PRNewswire/ -- Celadon Trucking will exit its three Celadon Driving Academy (CDA) locations in Indianapolis, Laredo and Richmond later this year. One of Celadon's third-party driving school partners plans to establish accredited driving schools at each of the three locations. Celadon will continue to need new drivers and has determined that a third-party model is a more effective way to hire new drivers. Most trucking companies that deliver freight over the road use a network of accredited driving schools to source new drivers for their fleets.
President and Chief Operating Officer, Jon Russell commented: "Highly qualified professional truck drivers are the lifeblood of our organization. We recruit and train thousands of drivers each year and constantly evaluate the optimal mix of experienced drivers, student drivers, and driver trainers. After a thorough review, we determined that using third-party programs and making additional investments in driver compensation and advanced training would afford a better investment of resources than continuing to operate the schools ourselves. We are trucking specialists, and we will focus on our core business."
"Celadon is strongly committed to the Celadon Trucking business units (dry van, refrigerated, intermodal, and dedicated) as well as our Celadon Logistics, A&S, and other operations," continued Russell. "I'm excited at the progress we continue to make in restoring Celadon's status as a premium truckload and logistics provider."
Russell added, "We are committed to helping every CDA employee in their career transition. One of Celadon's third-party driving school partners has expressed interest in hiring many of our associates for their soon-to-be established school here in Indianapolis as well as Richmond and Laredo. In addition, we have open jobs within Celadon for which they can apply.
Celadon Group, Inc. (NYSE: CGI), through its subsidiaries, provides long-haul, regional, local, dedicated, intermodal, temperature-protect, and expedited freight service across the United States, Canada, and Mexico. The company also owns Celadon Logistics Services, which provides freight brokerage services, freight management, as well as supply chain management solutions, including warehousing and distribution.
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases, including "expects," "expected," "will," "would be," "intends," "goal," "believes," and similar terms and phrases. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. In this press release, statements relating to post-closing goodwill payments, the purchaser's post-closing actions with respect to drivers and assumption of contracts, our strategic plan, achievement of our improvement initiatives, the freight marketplace, and the refinancing of our capital structure, among others, are forward-looking statements. Actual results may differ from those set forth in the forward-looking statements. Readers should review and consider factors that could impact results as provided in various disclosures by the Company in its press releases, stockholder reports, and filings with the Securities and Exchange Commission.
For more information: Joe Weigel Director of Communications (317) 972-7006 Direct [email protected]