VAN BUREN, Ark. (AP) — A Van Buren trucking company has decided not to pursue a possible merger with one of its competitors.
Last week, Celadon Group of Indianapolis requested a meeting with USA Truck Inc. "to discuss a possible association."
USA Truck officials said in a statement Friday that the board of directors reviewed the filing and unanimously decided to decline the offer. Officials noted recent management changes and the board's desire to remain focused on increasing value through operational improvements.
Also on Friday, USA Truck announced a net loss of $4.3 million in the third quarter.
President and CEO Cliff Beckham says the company faced several challenges, including a shortage of truck drivers and the final steps of implementing a new software system.
©2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.