Celadon Group Announces a Two Million Share Buyback

Published on Wednesday, 25 August 2010 16:08 Written by TradersHuddle Staff

INDIANAPOLIS-( Business Wire )-

Celadon Group Inc. (NYSE: CGI) announced today that on August 25, 2010, the Board of Directors of Celadon Group authorized a stock repurchase program under which the company was authorized to purchase up to two million shares in open market or negotiated transactions through August 31, 2011. Chairman and CEO Steve Russell said, “At recent stock prices and applicable interest rates, repurchasing our shares would be accretive to earnings, and we believe repurchasing our shares offers a potentially attractive use of capital.”

Celadon Group Inc. (www.celadongroup.com), through its subsidiaries, primarily provides long-haul, full-truckload freight service across the United States, Canada and Mexico. The company also owns TruckersB2B Inc. (www.truckersb2b.com) which provides cost savings to member fleets; Celadon Dedicated Services, which provides supply chain management solutions, such as warehousing and dedicated fleet services; and Celadon Brokerage Services.

This press release and the conference announced may contain forward-looking statements made by the Company that involve risks, assumptions and uncertainties that are difficult to predict. Investors are directed to the information contained in Item 7A (“Quantitative and Qualitative Disclosures About Market Risk”) of Part II of the Company’s Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission, for a discussion of the risks that may affect the Company’s future operating results. Actual results may differ.

Celadon Group Inc.Jeryl Desjarlais, Communications Manager, 800-CELADON Ext. 7070317-972-7070 This e-mail address is being protected from spambots. You need JavaScript enabled to view it.