Celadon buys Frozen Food Express dry van assets

user-gravatar
Updated Oct 24, 2011

Frozen Food Express Industries Inc. on Wednesday, Oct. 19, announced it has reached an agreement with Celadon Trucking Services to sell substantially all of its dry van trailers and nearly 290 tractors to Celadon; terms were not announced.

Frozen Food Express, based in Dallas, announced earlier this month that it would restructure its dry freight service offerings and that it would sell about 435 dry van trailers, which account for all of the company’s dry van trailer fleet, and further reduce its fleet by 290 tractors during the fourth quarter as a result of the reduction in the dry van services.

“We are pleased to work with a quality organization such as Celadon,” says Russell Stubbs, Frozen Food Express president and chief executive officer. “Additionally, I’m pleased to announce that we have successfully worked with our dry van customers to ensure there are no service interruptions during our transition, and we will continue to provide dry freight services through use of our refrigerated fleet on lanes that make economic sense for both our customers and our company. We are pleased that we were able to complete this transaction so quickly and professionally. We will continue to aggressively grow in our core business, which is temperature-controlled LTL and truckload transportation.”

“Celadon is pleased to complete this transaction with FFE in an expedient manner and continue with our goals to build our driver pool, increase our fleet size and expand our overall capacity in our dry van business, which is the core business offering of our company,” said Paul Will, president and chief operating officer of Indianapolis-based Celadon. “I appreciate the dedication and professionalism displayed by both companies as we have worked to execute a seamless business transition with respect to drivers and shippers.”