Nov 30, 2009 10:01 AM

Missoula MT-based Jim Palmer Trucking, which emerged from Chapter 11 proceedings in May 2009, has been sold to a pair of Chicago IL-based businessmen who intend to expand the company on the East Coast.

Milan Kangrga and Blazo Gjorev, American residents originally from Croatia, are the firm’s new owners. They currently run a small flatbed truck service in the Chicago area and are partners in other businesses.

Kangrga said the company will move forward without significant changes. All 280 employees will retain their jobs, namesake Jim Palmer will serve as a consultant, and Lonnie Wallace, the company’s president, will stay in that position.

Jim Palmer Trucking is still waiting for a final ruling to be released officially from Chapter 11 obligations.

Kangrga said he was impressed by the loyalty of the company’s workers, who took a 10% wage decrease to assist the business through its bankruptcy.