Market Overview

Celadon's Mexican Carrier Jaguar Transportation "Still Pulling Strong"

Share:
Celadon's Mexican Carrier Jaguar Transportation "Still Pulling Strong"

Jaguar Transportation, the Celadon (OTCMKTS: CGIP)-owned carrier based in Mexico, says it will remain operational and continue its cross-border shipping.

"Jaguar will operate in the same way it has been working. The situation that Celadon is going through does not compromise this company at all," Jaguar company officials said in an email to FreightWaves.

However, Jaguar Transportation's webpage was removed on Dec. 9. It is not clear if the company's web address was changed or shut down. The company's Facebook page was still up.

Jaguar Transportation is listed as a wholly owned subsidiary of Celadon Group Inc. in a 2016 filing with the U.S. Securities and Exchange Commission.

Jaguar Transportation was founded in 1975 near Monterrey, Mexico, and acquired by Celadon in 1992. The company said it had 450 trucks and 600 employees, according to a 2018 marketing brochure.

Jesus Alvarez, head of carrier sales for digital freight marketplace Fr8Hub, said he spoke with Jaguar Transportation officials on Dec. 9. They also indicated to him that the Mexican carrier would keep operating.

"As far as I know, Jaguar is still pulling strong. They were one of Celadon's most lucrative assets," Alvarez said.

As first reported by FreightWaves, Celadon Group, a truckload carrier that grossed $1 billion as recently as 2015, filed for bankruptcy in U.S. Bankruptcy Court for the District of Delaware on Dec. 9, making it the largest truckload bankruptcy in history.

The bankruptcy affects about 3,500 direct employees and all of its divisions, except Taylor Express, a North Carolina trucking company it could sell off, according to a press release.

In addition to Jaguar Transportation, Celadon's other international trucking operation was Hyndman Transport Limited, an 82-year-old Canadian cross-border carrier. Hyndman announced it was shutting down Dec. 9 as part of Celadon's Chapter 11 bankruptcy proceedings.

Image Sourced from Pixabay

Posted-In: bankruptcy Celadon FreightNews Commodities Global Markets General

 

Related Articles

View Comments and Join the Discussion!