Cyprus Buys Ploof Truck Lines
Cyprus Truck Lines of Jacksonville, Fla., has purchased Ploof Truck Lines and will operate the flatbed truckload carrier as a separate business.
Cyprus agreed to pay $13.5 million for the assets of Ploof, which had filed for bankruptcy protection in September ("Ploof Truck Lines Up for Sale," 9-27, p. 8).
For the full story, see the Jan. 24 print edition of Transport Topics. Subscribe today.
The transaction represents a kind of homecoming for Cyprus President David Penland Sr., who started his trucking career as a driver for Ploof in the early 1960s.
 |  |
At least two other companies had expressed interest in acquiring Ploof, according to Thad Penland, vice president of traffic for Cyprus.
