Business Services Industry
The Celadon Group bank line extension; rates lowered
Business Wire, July 1, 1997
INDIANAPOLIS--(BUSINESS WIRE)--July 1, 1997--The Celadon Group, Inc. (NASDAQ:CLDN), announced today that the NBD Bank, NA and BankBoston have extended the Company's $30 million line of credit for two (2) years.
The Company said the extension included more favorable interest rates reflecting Celadon's much improved financial position.
Don Snyder, chief financial officer of Celadon, said, "The two-year extension of our credit line and the more favorable interest rates reflects our Banks' confidence that Celadon's improved performance over the last year will continue."
Celadon Group, Inc. is a truckload company specializing in the transport of goods to and from Mexico. Celadon Trucking has approximately 1,200 operating line haul tractors and 4,300 trailers; and the flatbed division, Cheetah Transportation, has a network of approximately 270 owner-operated tractors. -0-
This release is available on the KCSA Public Relations website at www.kcsa.com.
CONTACT: Celadon Group, Indianapolis
Don Snyder, 317/972-7033
or
KCSA, New York
Joseph A. Mansi, 212/682-6300 ext. 205
Adam I. Friedman, 212/682-6300 ext. 215
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