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Celadon to assist Priority with loads

Published Wednesday, August 27, 2008

Citing rising operating costs, Priority Transportation has reached agreement with Celadon Group for Celadon to cover customer loads and assist in the collection of tractors and trailers as well as accounts receivables. Celadon will not purchase any assets under the deal, Celadon said. A Celadon subsidiary signed what the company called a “receivables collection and equipment marshalling agreement” with Priority Transportation, a subsidiary of Priority America. Under terms of the agreement, Celadon has agreed to use “reasonable efforts” to cover certain loads and assist in the retrieval of equipment and collections. “We are delighted ...

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