Old World Industries Launches BlueDEF Storage and Dispensing Equipment

Old World Industries has announced the launch of BlueDEF Storage and Dispensing Equipment, a product portfolio ranging from basic hand pumps to bulk storage and dispensing systems for retail and commercial applications.

The BlueDEF portfolio includes the Plug and Pump Storage Systems. Available in 396-, 660-, and 1,320-gallon options, these self-contained storage and dispensing systems cost significantly less to install than others in the industry.

The system is designed to be functional and reliable and is relocatable as well. Fleet customers will appreciate the ease of installation, which equals less down time. The system is double-walled and works in markets where temperatures drop below 12 degrees Fahrenheit.

Designed to meet ISO 22241 quality standards, all BlueDEF Storage and Dispensing Equipment is engineered with DEF-compatible parts to safeguard the sensitive chemistry and meet the high demands of the industry.

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Mitsubishi Fuso Truck of America Taps Palmer as New Chief

Photo: Mitsubishi Fuso Truck of America

Justin Palmer has been named president and CEO of Mitsubishi Fuso Truck of America, effective immediately, according to the company.

He succeeds Jecka Glasman, who has left Fuso to return to her home country of Israel for family reasons.

Palmer has been the company's director of business operations for the past two years, responsible for strategic business planning as well as managing and developing the organization improvement process and improving growth and customer satisfaction.

“We will miss Jecka. She did a fantastic job of managing Fuso through a transitionary period as we developed the new eCanter all-electric truck, as well as the coming gasoline-engine FE Series,” said Michael Kamper, senior vice president and head of sales and marketing at Daimler Trucks Asia and Japan-based Mitsubishi Fuso Truck and Bus Corporation. “But we're also very fortunate to have Justin available to step into the role as president and CEO, to lead our North American operations going forward.”

Palmer joined MFTA in 2015, bringing broad experience in retail and distribution networks as well as a background in international operations and business development at multinational corporations. Palmer will operate from thecompany's U.S. headquarters in Logan Township, N.J.

“He has already contributed greatly to our strategic planning and business operations improvement, and he has developed a thorough knowledge of where we need to be as a company,” said Kamper. “We look forward to a prosperous future for Fuso under his leadership.”

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Celadon Issues Update on Refinancing Effort

Financially embattled Celadon Group announced that it has made another step toward refinancing the company, as it continues to restructure while under investigation by the Securities and Exchange Commission.

In October, Celadon entered into a Sixth Amendment to an Amended and Restated Credit Agreement, which requires the company to obtain non-binding letters of intent for proposed financings sufficient to refinance the company's existing revolving credit facility, and the payment of any preliminary diligence or fees required by the letters of intent.

The company has now received the proposals and paid the requisite preliminary fees to satisfy this provision of the Sixth Amendment. The proposals are non-binding and the completion of the refinancing is subject to, among other things, the prospective lenders' satisfactory completion of due diligence, internal lender approvals, and negotiation of definitive documentation.

“We were pleased to receive proposals for both an asset based revolving credit facility and term loan financing,” said Paul Svindland, CEO of Celedon. “In particular, we have entered into a nonbinding letter of intent which contemplates an asset based revolving credit facility with two of our existing revolving lenders. This continued support from our current lenders is much appreciated as we continue to work towards accomplishing the refinancing."

Celadon also said it has appointed Vincent Donargo as vice president and chief accounting officer. Donargo previously served as executive vice president and CFO of Beaulieu Group, a carpet and flooring manufacturing company, from August 2016 to November 2017.

"We are pleased to add Vince to the Celadon team and are glad to have reached a conclusion to our search for a Chief Accounting Officer,” said Thom Albrecht, chief financial and strategy officer of Celadon. “Vince's deep expertise in accounting and financial matters will be invaluable to the company and we look forward to his contributions."

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