Thursday, February 28, 2013

Greenbrier Exits Wheelset Roller Bearing Reconditioning Business


Long-term supply agreement ensures cost-competitive supply of wheelset roller bearings; Sale furthers strategy to reduce non-core assets to enhance earnings and capital return

LAKE OSWEGO, Ore., Feb. 28, - The Greenbrier Companies, Inc. [NYSE:GBX] announced today it has entered an asset purchase agreement with The Timken Company [NYSE:TKR] for sale of substantially all the equipment utilized in Greenbrier's reconditioned wheelset roller bearing operations in Elizabethtown, Kentucky ("Elizabethtown").  Concurrent with the sale, Greenbrier will enter into a long-term supply agreement with Timken for reconditioned and new bearings.  The companies did not disclose the asset purchase price.  Closing of the transaction is expected before the conclusion of Greenbrier's fiscal third quarter ending May 31, 2013.

Greenbrier acquired Elizabethtown in 2008 to provide reconditioned wheel bearings for use in Greenbrier's Wheel Services, Refurbishment & Parts segment.  Elizabethtown has employed an average of 100 people during Greenbrier's last two fiscal years and is Greenbrier's only wheelset roller bearing reconditioning facility.  The operation is profitable.  However, recent changes in rules related to reconditioned components and a constrained availability of certain key materials has diminished the strategic value of this operation rendering it a non-core asset to Greenbrier. As a global bearing manufacturer with four rail bearing reconditioning facilities in the US, Timken brings scale and experience to the supply agreement. This ensures Greenbrier a steady, long-term supply of new and reconditioned bearings, while eliminating Greenbrier's costs of maintaining an internal operation to meet its supply needs.

The effects of eliminating internal production of bearings and entering into the supply agreement are expected to be accretive to Greenbrier's earnings and liberate approximately $10 million in capital.  It is consistent with Greenbrier's corporate strategy to reduce non-core or underperforming capital assets and improve capital efficiency, while also increasing capital available for reinvestment opportunities that enhance the performance of Greenbrier's integrated business model.  These efforts are designed to increase Greenbrier's return on invested capital, improve gross margins and enhance value to shareholders.  This strategy will be described in greater detail when Greenbrier announces its financial results in early April for its second fiscal quarter ending on February 28, 2013.

"With the completion of this transaction, we are well positioned to focus on our core strengths of heavy railcar repair, refurbishment, complete wheel services and routine railcar maintenance and pursue the growth opportunities that these areas offer," said Timothy A. Stuckey, president of Greenbrier Rail Services. "We are pleased to partner with Timken to ensure that our requirements for new and reconditioned wheelset roller bearings will continue without interruption."

"Like Greenbrier, Timken is committed to improving the productivity, safety and efficiency of our rail customers," said Brian Ruel, vice president of off-highway, light vehicle systems and rail for Timken. "This agreement aligns with our strategy to grow our services portfolio and invest in the rail business."

To complete the asset purchase transaction, Greenbrier and Timken will complete a transition plan over the course of Greenbrier's fiscal third quarter.  This will include preparing equipment and remaining inventory for transfer to Timken facilities.   The land and buildings owned by Greenbrier at Elizabethtown are not included in the asset purchase agreement and will be listed for sale by Greenbrier after completion of the transition plan.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:

This release may contain forward-looking statements, including statements regarding expected new railcar production volumes and schedules, expected customer demand for the Company's products and services, plans to increase manufacturing capacity, new railcar delivery volumes and schedules, growth in demand for the Company's railcar services and parts business, and the Company's future financial performance. Greenbrier uses words such as "anticipates," "believes,"  "forecast," "potential," "contemplates," "expects," "intends," "plans," "seeks," "estimates," "could," "would," "will," "may," "can," and similar expressions to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to certain risks and uncertainties that could cause actual results to differ materially from in the results contemplated by the forward-looking statements. Factors that might cause such a difference include, but are not limited to, reported backlog is not indicative of our financial results; turmoil in the credit markets and financial services industry; high levels of indebtedness and compliance with the terms of our indebtedness; write-downs of goodwill, intangibles and other assets in future periods; sufficient availability of borrowing capacity; fluctuations in demand for newly manufactured railcars or failure to obtain orders as anticipated in developing forecasts; loss of one or more significant customers; customer payment defaults or related issues; actual future costs and the availability of materials and a trained workforce; failure to design or manufacture new products or technologies or to achieve certification or market acceptance of new products or technologies; steel or specialty component price fluctuations and availability and scrap surcharges; changes in product mix and the mix between segments; labor disputes, energy shortages or operating difficulties that might disrupt manufacturing operations or the flow of cargo; production difficulties and product delivery delays as a result of, among other matters, changing technologies, production of new railcar types, or non-performance of subcontractors or suppliers; ability to obtain suitable contracts for the sale of leased equipment and risks related to car hire and residual values; difficulties associated with governmental regulation, including environmental liabilities; integration of current or future acquisitions; succession planning; all as may be discussed in more detail under the headings "Risk Factors" and "Forward Looking Statements" in our Annual Report on Form 10-K for the fiscal year ended August 31, 2012, and our other reports on file with the Securities and Exchange Commission.  Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. Except as otherwise required by law, we do not assume any obligation to update any forward-looking statements.

Greenbrier:

Headquartered in Lake Oswego, Oregon, Greenbrier is a leading supplier of transportation equipment and services to the railroad industry. Greenbrier builds new railroad freight cars in its four manufacturing facilities in the U.S. and Mexico and marine barges at its U.S. facility. It also repairs and refurbishes freight cars and provides wheels and railcar parts at 39 locations across North America. Greenbrier builds new railroad freight cars and refurbishes freight cars for the European market through both its operations in Poland and various subcontractor facilities throughout Europe. Greenbrier owns approximately 11,000 railcars, and performs management services for approximately 219,000 railcars.
The Timken Company (NYSE: TKR; www.timken.com), a global industrial technology leader, applies its deep knowledge of materials, friction management and power transmission to improve the reliability and efficiency of industrial machinery and equipment all around the world.  The company engineers, manufactures and markets mechanical components and high-performance steel.  Timken® bearings, engineered steel bars and tubes—as well as transmissions, gearboxes, chain, related products and services—support diversified markets worldwide.  With sales of $5.0 billion in 2012 and approximately 20,000 people operating from 30 countries, Timken makes the world more productive and keeps industry in motion.

Latin American Cargo Sees More Canadians Shipping to Mexico; Reefer Trucks Increasing in Necessity


Efforts from the Canadian government has potentially had an impact on how frequently Canadians are shipping to Mexico. Because of the Canadian climate many agricultural products are currently brought up in large reefer tucks, a trend likely to become more common.
 
Staten Island, New York - February 28, 2013 - The Canadian government has been making many efforts to keep trade strong with all of the various countries in Latin America. Initiatives like Export Development Canada are promoting investment in countries like Mexico, with popular reefer truck-fulls of fruits and vegetables coming in return. There are entire segments of the government site that explain how they can help companies shipping to Mexico.

It is not unusual for governments to take steps to help local companies invest abroad and promote trade with other countries. Canada is likely trying to make sure trade is as high as possible given their strong dollar. With every new Canadian company shipping to Mexico with such a strong dollar, there is more value brought back to Canada for less. Exports tend to fall during periods where a county's currency gains relative worth, and the effort to increase trade is one way of try to offset this trend and maximize this period in the Canadian economy.

Canadians have been trading with Mexico for a long period of time, with agricultural products becoming far more popular with the invention and spread of reefer trucks. For those who don't know, reefer trucks are designed with refrigeration units and are mainly used to bring cold or frozen goods without as much fear of expiration. Latin American Cargo has specialized trucks like these and others including flatbeds and more traditional full trailer loads.

Since Latin American Cargo has been on the front lines of the huge amounts of trading going on between the U.S., Mexico, and Canada, they have been in a position to see exactly how trends have changed. With most countries suffering in the fallout of the 2008 financial collapse, Canada, who still had a strong economy, became more of a central figure for trade in the Americas. With a strong dollar and with other economies faltering, Canada is boosting trade and making an effort to make the most out of this situation. Increased shipping to Mexico is just one aspect of a complex and concerted effort to make the Canadian economy even stronger.

About Latin American Cargo:

Latin American Cargo (LAC) is a shipping and freighting company specializing in shipments going to and from different areas in Latin America. Recently gaining NVOCC status in the USA, LAC has expanded its abilities to serve customers who need to ship their goods from Canada and the US territories to Latin America. LAC is experienced with air, sea and ground transport, and it’s Mexfreight division, short for Mexican Freight, handles almost exclusively shipping to Mexico and back, and acts primarily as a road transportation service.

Michael Reed Appointed to Chief Technology Officer at Echo Global Logistics


CHICAGO, February 28, 2013 -- Echo Global Logistics, Inc. (Nasdaq: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced today its interim Chief Technology Officer (CTO), Michael Reed was officially appointed CTO for the company. He had served as interim CTO since April 2012.

“We recognize the years of outstanding work he has provided to our organization,” said Doug Waggoner, Chief Executive Officer of Echo Global Logistics. “He is leading an agile approach to technology development that is allowing us to more rapidly roll out logistics services to our clients.  Our technology prowess is the backbone of our success, and we look to Mike’s leadership and innovation to help ensure our ongoing success.”

Mr. Reed began his tenure with Echo Global Logistics in 2007 as a Lead Application Developer, and has held several positions including the Director of Product Development and Vice President, Information Technology. Prior to joining Echo Global Logistics, Mr. Reed cofounded Digerati Solutions, a privately owned software development and consulting company.

Mr. Reed holds a bachelor’s degree in Computer Science Engineering from University of Michigan.  

About Echo Global Logistics:

Echo Global Logistics, based in Chicago, is a leading provider of technology-enabled transportation and supply chain management services, delivered on a proprietary technology platform, serving the transportation and logistics needs of its clients. Echo maintains a web-based technology platform that compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients' shipping and freight management needs. Echo procures transportation and provides logistics services for clients across a wide range of industries, such as manufacturing, construction, consumer products and retail. For more information on Echo, visit: www.echo.com.

Mid-Sized Retailers Battle Big-Boxes for Market Share, Purchasing Power


 New Intesource Report Outlines Strategies for Staying Competitive and Improving Profits

PHOENIX (February 28, 2013) –  Mid-sized retailers’ and grocers'  profit margins continue to shrink under increased pressure and competition from big-box retailers, according to a new report by Intesource, the e-sourcing company.

In 2000, grocery stores accounted for two-thirds of U.S. grocery purchases. Today, they  barely claim half of the North American market share. The competition comes from large, global retailers that  leverage immense purchasing power to dictate market terms, and make it difficult for smaller retailers to compete on price and supply.

A new market report from Intesource – “Battling with the Big-Boxes: Three Strategies for Mid-Sized Retailers to Stay Competitive and Improve Profits” – will help mid-sized retailers fight back.  Available now on Intesource.com, the report outlines sourcing strategies to unlock new savings, improve margins, and drive sales, including:

*         Exploring new, innovative sources of supply that differentiate retail brands and introduce customers to new and exciting products.
*         Challenging suppliers to provide more value and better contractual terms– even when you are satisfied with current supplier relationships.
*         Collaborating, aggregating, and being creative to build stronger supplier partnerships that drive savings and reduce risk.

"Lacking the purchasing power of a Wal-Mart or Target, smaller retailers are exposed to volatile prices, rising costs and shrinking consumer incomes," said Brian Miller, VP of Services at Intesource. "To stay competitive in this market, retailers must lean on their supply chains for growth and cost-saving opportunities."

For more information, download the full report on www.Intesource.com.

 About Intesource:

Companies are caught between two opposing goals: drive cost savings or invest in innovation. Both require people, technology, and expertise in a time when resources – and the skills and time required to source effectively – are scarce.

Intesource eliminates operational headaches from the sourcing equation by offering the industry’s only enterprise wide, unlimited, full-service e-Sourcing package. Intesource’s turnkey approach to e-Sourcing consistently drives double-digit savings without requiring additional staff or process overhauls – an approach that saves valuable time and frees up staff to focus on strategic initiatives.

With a history of success in the most challenging sourcing climates, and expertise in both direct and indirect categories, Intesource ensures that buyers are getting the best value every single time. Learn more at www.Intesource.com and follow us on Twitter at @Intesource.


CN and LBC Tank Terminals Team Up to for Northern Alberta Oil Shipments


CHICAGO, IL, Feb. 28, 2013 - CN (TSX: CNR) (NYSE: CNI) announced today it will increase shipments of heavy northern Alberta crude oil through LBC Tank Terminals' expanded terminal at Sunshine, located within the Geismar, La., Industrial Complex, starting in March 2013.

The new service is part of CN's plan to develop new markets for northern Alberta crude oil on the east side of the Mississippi River near the Gulf of Mexico. CN is also moving chemicals from the Chicago area to the LBC Tank Terminals facility at Geismar, which is home to a large concentration of petrochemical industries.

Russ Crawford, vice-president, marketing, Americas, at LBC Tank Terminals, said: "The expansion of the Sunshine storage capacity by 160,000 barrels, with additional rail unloading spots, steaming spots and increased storage capacity, is another step in our long-term global growth program. It will help us accommodate the rise in customer demand as a response to the growth in the movement of heavy crude oil and fuel oil products. CN's service to our facility is a key part of our growth plan."

LBC Tank Terminals' Sunshine facility is located near two of the largest heavy crude refineries in Geismar and various pipeline assets and marine terminals.
Jean-Jacques Ruest, CN executive vice-president and chief marketing officer, said: "Louisiana terminals on the east shore of the Mississippi River are a good fit for heavy crudes. CN is the natural supply chain partner to help connect northern Alberta with desirable markets on the U.S. Gulf coast.

"CN provides direct, efficient single-line service from northern Alberta to the Gulf Coast, and we are pleased to be working with companies such as LBC Tank Terminals to move heavy crude oil volumes to the Gulf for our customers. Crude oil by rail is one of CN's fastest growing businesses. We moved more than 30,000 carloads of crude last year, and we believe we have the scope to double this business in 2013."

The expansion of the LBC Tank Terminals Geismar facility is expected to be completed by October 2013 and will eventually result in total storage capacity of close to three million barrels.

About CN:

CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.

Forward-Looking Statements:

Certain information included in this news release constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions.  The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, which may cause the actual results or performance of the Company or the rail industry to be materially different from the outlook or any future results or performance implied by such statements. Important factors that could affect the above forward-looking statements include, but are not limited to, the effects of general economic and business conditions, industry competition, inflation, currency and interest rate fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, actions by regulators, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor negotiations and disruptions, environmental claims, uncertainties of investigations, proceedings or other types of claims and litigation, risks and liabilities arising from derailments, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CN's annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN's website, for a summary of major risks.CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable Canadian securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

About LBC Tank Terminals:

Headquartered in Belgium, LBC Tank Terminals has operations in ARA, U.S. Gulf Coast, China, France, Spain and Portugal. Business Development in Asia is supported by its commercial office based in Singapore. LBC works with the world's leading petro-chemical producers and distributors. LBC supports them with tank storage, a range of value added services and in-depth knowledge of local regulations, logistics and transport facilities. LBC offers a comprehensive storage solution, designed to meet the individual needs of our customers. For more information on LBC, please visit its website at www.lbctt.com.

GEODIS WILSON WILL MANAGE DELSEY’S GLOBAL LOGISTICS OPERATIONS


Geodis Wilson wins large 2 year contract with Delsey

Clichy, France, 28th February 2013 - Geodis Wilson, Geodis’ freight management division, today announces signing of a two year contract to manage the global logistics operations for international luggage manufacturer, Delsey. Geodis Wilson’s advanced solutions and global offering will reduce Delsey’s logistics costs by a significant percentage.

Geodis Wilson will implement a fully integrated logistics service with management of intra-Asia freight services through Vietnam and Southern China, contractual logistics with a permanent storage volume above 15,000 CBM and Full Container Load (FCL) deliveries worldwide to France, US, Latin America, Middle East and Asia Pacific.

The Geodis Wilson logistics centre is located in Shanghai’s Yangshan Free Trade Port Area. This is where 36,000 cubic meters (CBM) of Delsey products for import and export will be handled yearly, as well as round-trip FCL trucking from Yangshan port to the distribution centre and Less Than Truckload (LTL) domestic distribution with a yearly volume of 4,000 CBM to Delsey customers in 37 cities in China.

Commenting on the contract success, Marie-Christine Lombard, CEO of Geodis, said: “This contract highlights Geodis Wilson’s strong presence in China’s competitive transport and logistics market. Our innovative approach will allow Delsey to increase productivity, reduce business complexity and optimise their supply chains with a single, best in class logistics provider.”

Delsey requires a cost effective logistics provider to support its global logistics needs for distribution across over 100 countries. Lucien Soldano, Global Supply Chain Director of Delsey said: “Geodis Wilson’s advanced IT and technical support through real-time, automatic status updates and optimised flow at modern logistics centers, highlights that the company is the best choice to meet Delsey’s demands.”

Geodis Wilson has been operating in Asia Pacific for over 30 years. It has a team of more than 2,100 employees in the region, striving to deliver ‘best in class’ customer service and performance. Geodis Wilson recently announced the expansion of its cross-border trucking operations into China, to meet rising demand among Southeast Asian customers, especially those in the high-tech sector. It is also committed to the growth of its Asia Pacific operations after announcing the opening of three new large logistics centres in China in 2012.


Geodis:

A  supply  chain  operator  and  fully  owned subsidiary of the SNCF Group, Geodis  is  a European group with global reach, ranking among the top four companies  in its field in Europe. The Group's ability to coordinate all or part of the supply chain (air and sea freight forwarding, groupage/express, contract  logistics,  transport  of  part  and  full  truck  loads, reverse logistics,  supply chain anagement and optimisation) enables it to support its   customers   in   their   strategic, geographical  and  technological developments,  providing them with solutions to optimise their physical and information  flows.  Geodis  offers a range of logistics services that meet the  specific  needs  of  each  sector  of  the economy. With offices in 60 countries,  the  Group's 32,000 employees provide a wealth of multicultural experience,  delivering  a  local  service  to their customers as part of a?flexible,  proactive  approach. Geodis reported revenues of €7.1 billion in 2012.

About Delsey:

An iconic brand, Delsey is a French company and a creator of baggage since 1946. For more than 65 years Delsey has offered consumers cases which bring together quality and audacious design. Delsey creates ingenious baggage designed to accompany travelers wherever they go and to adapt to all types of journey, both professional and personal. Its strength grounded in its expertise, the brand is behind numerous innovations recognized by important awards in the design world. Delsey brings together style and functionality to create products that reflects the personality of each consumer. Today Delsey is present in all 5 continents and in more than 130 countries. A Delsey bag is sold every 10 seconds.

Wednesday, February 27, 2013

XPO Logistics Announces Fourth Quarter and Full Year 2012 Results Provides Full Year 2013 Outlook


GREENWICH, Conn. — February 27, 2013 — XPO Logistics, Inc. (NYSE: XPO) today announced financial results for the fourth quarter and full year 2012.

For the fourth quarter of 2012, total revenue was $108.5 million, a 146.1% increase from the same period the prior year. Gross margin dollars increased 118.4% year-over-year to $15.7 million, and gross margin percentage was 14.4%.

Consistent with the company's previously announced strategy, investments in long-term growth impacted fourth quarter results. The company reported a net loss of $9.3 million for the quarter, compared with a net loss of $1.5 million for the same period in 2011.

The fourth quarter net loss available to common shareholders was $10.1 million, or a loss of $0.57 per diluted share, compared with a net loss available to common shareholders of $2.2 million, or a loss of $0.27 per diluted share, for the same period in 2011.

Earnings (loss) before interest, taxes, depreciation and amortization ("EBITDA"), a non-GAAP financial measure, was a loss of $9.9 million for the fourth quarter of 2012, compared with a loss of $2.1 million for the same period in 2011. EBITDA includes $913,000 and $882,000 of non-cash share-based compensation for the fourth quarters of 2012 and 2011, respectively. The company had $252.3 million of cash as of December 31, 2012.

2013 Outlook:

The company provided the following outlook for full year 2013:
• An annual revenue run rate of more than $1 billion as of December 31;
• At least $300 million of acquired historical annual revenue;
• Positive EBITDA for the fourth quarter; and
• At least three new freight brokerage cold-starts.

Acquires Covered Logistics & Transportation LLC:

On February 22, 2013, the company acquired substantially all of the operating assets of Covered Logistics & Transportation LLC, a non-asset, third party freight brokerage business with 2012 revenues of approximately $27 million. The purchase price was $8 million in cash and $3 million in XPO common stock, excluding any working capital adjustments, with no assumption of debt. The acquisition is expected to be immediately accretive to earnings.

Founded in 2005, Covered Logistics has over 4,000 carrier relationships and a strong track record of serving the manufacturing, postal, consumer, and oil and gas sectors. Its offices are located in Lake Forest, Ill., and Dallas, Texas. Co-founders Tuck Jasper, Paul Jasper and Patrick Gillihan will continue to lead the operations, which are being rebranded as XPO Logistics.

CEO Comments:

Bradley Jacobs, chairman and chief executive officer, said in a press release, "The actions we're taking to scale up the business are continuing to drive results. Our fourth quarter revenue was up 146% year-over-year, and gross margin dollars increased by 118%. Our freight brokerage business generated 760% more revenue in the quarter, as compared to the prior year period. Our expedite business achieved top line growth of 8.7% for the quarter, and we have new initiatives in place to gain margin. Freight forwarding had a 62% increase in gross margin dollars versus fourth quarter 2011. While our investments in people and technology resulted in a loss, as expected, they are fundamentally important to value creation. We're currently on an annual revenue run rate of over $500 million, and we expect that rate to be more than a billion dollars by year-end."

Jacobs continued: "Our most recent acquisition, Covered Logistics, is a well-run freight brokerage operation that we plan to integrate and scale up quickly. The Covered team has deep roots in the industry and they share our passion for growth. This is our second acquisition of 2013 from a pipeline of solid prospects. We expect to add at least $300 million of acquired historical annual revenue in 2013.

"We remain focused on executing the three parts of our strategy: acquisitions, cold-starts and the optimization of our operations. In 14 months, we've acquired six companies and opened 17 cold-starts, eight in freight brokerage. Our footprint now stands at 60 locations. We've grown our headcount from 208 to more than 900 employees. We're steadily enhancing our proprietary technology, and implementing leading edge recruitment and training programs. Most importantly, we've created a driven culture that keeps us on track to grow XPO into a multi-billion dollar company."

Fourth Quarter 2012 Results by Business Unit:

• Freight brokerage: The company's freight brokerage business generated total revenue of $71.1 million for the quarter, a 760.3% increase from the same period the prior year. Year-over-year revenue growth was primarily due to the acquisitions of Turbo Logistics, Kelron Logistics, Continental Freight Services and BirdDog Logistics, as well as revenue growth from the company's eight brokerage cold-start locations. The acquisition of Turbo Logistics on October 24, 2012, had a positive revenue impact of $27.2 million for the quarter. Gross margin percentage for the freight brokerage business was 13.4% for the quarter, compared with 16.8% for the same period in 2011. The decline in gross margin percentage was primarily due to the addition of seven new cold-starts in 2012, which are still in the start-up phase. The fourth quarter operating loss was $2.5 million, compared with operating income of $496,000 the prior year. The decline in 2012 operating income primarily reflects a planned increase in SG&A expense associated with significant growth initiatives, including sales force recruitment.

• Expedited transportation: The company's expedited services business generated total revenue of $22.1 million for the quarter, an 8.7% increase from the same period the prior year. Revenue growth was primarily driven by an increase in average revenue-per-load and growth in the company's domestic, international and temperature-controlled services. Gross margin percentage was 16.5% for the quarter, compared with 20.9% for the same period in 2011. The decrease in gross margin percentage primarily reflects higher rates paid to independent fleet owners and owner-operators, effective March 1, 2012, and an increase in the volume of cross-border loads, which typically generate a lower margin. Fourth quarter operating income was $1.0 million, compared with $1.8 million the prior year, primarily reflecting the year-over-year decrease in gross margin.

• Freight forwarding: The company's freight forwarding business generated total revenue of $18.5 million for the quarter, a 10.1% increase from the same period the prior year. Gross margin percentage was 13.5% for the quarter, compared with 9.2% for the same period in 2011. The improvements in revenue and gross margin percentage reflect a revenue increase from company-owned branches. Fourth quarter operating income was $454,000, compared with $35,000 for the same period the prior year. The increase in operating income reflects a higher gross margin, partially offset by higher SG&A costs associated with new company-owned locations in Chicago, Houston, Los Angeles, Minneapolis, Charlotte and Atlanta.

• Corporate: Corporate SG&A expense for the fourth quarter of 2012 increased by $5.3 million, compared with the same period the prior year. The increase was driven by a higher headcount in corporate shared services and higher purchased services. Corporate SG&A expense for the fourth quarter of 2012 included approximately $1.4 million of litigation-related legal costs; $1.0 million of acquisition-related transaction costs; and $913,000 of non-cash share based compensation.

Full Year 2012 Financial Results:

For the full year 2012, total revenue was $278.6 million, a 57.3% increase from 2011. Gross margin dollars increased 37.1% year-over-year to $40.8 million, and gross margin percentage was 14.7%.

Consistent with the company's previously announced strategy, investments in long-term growth impacted full year results. The company reported a net loss of $20.3 million for the full year 2012, compared with net income of $759,000 for 2011. The net loss available to common shareholders was $23.3 million, or a loss of $1.49 per diluted share, compared with a net loss available to common shareholders of $44.6 million, or a loss of $5.41 per diluted share, for 2011. The full year 2012 loss includes a charge of $0.19 per diluted share related to $3.0 million in cumulative preferred dividends. The full year 2011 loss includes a non-cash charge of $44.2 million, or $5.36 per diluted share, related to the September 2011 equity investment in the company.

EBITDA was a loss of $25.8 million for the full year 2012, compared with $2.7 million of EBITDA generated in 2011. Full year 2012 EBITDA was impacted by a $2.9 million expense ($1.9 million after tax) for acquisition-related transaction costs; a $2.5 million expense ($1.6 million after tax) for litigation-related legal costs; a $540,000 expense ($344,000 after tax) for compensation, severance and professional fees related to the composition of the company's executive team; a $480,000 expense ($306,000 after tax) for consulting fees in connection with securing an agreement with the state of North Carolina for up to $3.2 million in future tax incentives; and $4.4 million of non-cash share-based compensation.A reconciliation of EBITDA to net income is provided in the attached financial tables.

About XPO Logistics, Inc:

XPO Logistics, Inc. (NYSE: XPO) is one of the fastest growing providers of non-asset, third-party freight transportation services in North America. The company uses its relationships with more than 22,000 ground, sea and air carriers to find the best transportation solutions for its customers. XPO Logistics offers its services through three business units: freight brokerage, expedited transportation and freight forwarding. The company serves more than 7,750 customers in the retail, commercial, manufacturing and industrial sectors through 60 locations, including 36 branches in the United States and Canada and 24 agent offices. www.xpologistics.com

Non-GAAP Financial Measures:

This press release contains certain non-GAAP financial measures as defined under Securities and Exchange Commission ("SEC") rules, such as earnings (loss) before interest, taxes, depreciation and amortization ("EBITDA") for the quarters and years ended December 31, 2012 and December 31, 2011. As required by SEC rules, we provide reconciliations of these measures to the most directly comparable measure under United States generally accepted accounting principles ("GAAP"), which are set forth in the attachments to this release. We believe that EBITDA improves comparability from period to period by removing the impact of our capital structure (interest expense from our outstanding debt), asset base (depreciation and amortization) and tax consequences. In addition to its use by management, we believe that EBITDA is a measure widely used by securities analysts, investors and others to evaluate the financial performance of companies in our industry. Other companies may calculate EBITDA differently, and therefore our EBITDA may not be comparable to similarly titled measures of other companies. EBITDA is not a measure of financial performance or liquidity under GAAP and should not be considered in isolation or as an alternative to net income, cash flows from operating activities and other measures determined in accordance with GAAP. Items excluded from EBITDA are significant and necessary components of the operations of our business, and, therefore, EBITDA should only be used as a supplemental measure of our operating performance.

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, our 2013 outlook with respect to annual revenue, acquisitions, fourth quarter 2013 EBITDA and freight brokerage cold-starts. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target" or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include, but are not limited to, those discussed in our filings with the SEC and the following: economic conditions generally; competition; our ability to find suitable acquisition candidates and execute our acquisition strategy; our ability to raise capital; our ability to attract and retain key employees to execute our growth strategy; our ability to develop and implement a suitable information technology system; our ability to maintain positive relationships with our network of third-party transportation providers; litigation; and governmental regulation. All forward-looking statements set forth in this press release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this press release speak only as of the date hereof and we do not undertake any obligation to update forward-looking statements, including our 2013 outlook, to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events.

JOHN CARR PROMOTED, NAMED CEO OF MIQ LOGISTICS


OVERLAND PARK, Kan., February 27, 2013 – MIQ Logistics is pleased to announce the promotion of John Carr. Effective immediately, Carr serves in the expanded role of president and chief executive officer of MIQ Logistics, and retains his current board of directors’ position. Carr joined the company in 2007 as president of Americas and Europe. He was named its company-wide president in 2009.

“John was a leading force in launching MIQ Logistics in 2010, positioning the company for accelerated growth, and guiding its investments in operations and business development,” says David Lack, partner at Austin Ventures and MIQ Logistics board member. “In expanding his role, the company is structured to maintain that momentum and continue its growth as a leading global logistics provider.” Lack also notes that Joey Carnes will remain the company’s chairman of the board and that all other senior leaders will report directly to Carr.

Carr has a Bachelor's degree in business administration and a Master's degree in counseling psychology and is a member of the Georgia Technology Institute Advisory Board for the Executive Master's in International Logistics advanced degree program. Carr also is on the advisory board and past chairman of Kidz2Leaders, a nonprofit organization that helps change the lives of prisoners' children and break the cycle of incarceration.

About Austin Ventures:

Austin Ventures (“AV”) has worked with talented entrepreneurs to build valuable companies for over 30 years. With $3.9 billion under management, AV is the most active venture capital firm in Texas and one of the most established in the nation. AV invests in early stage and middle market companies, and its strategy is to partner with talented executives and entrepreneurs to build industry-leading companies predominantly in Texas. Visit austinventures.com for more information.

About MIQ Logistics:

MIQ Logistics is a global logistics company headquartered in Overland Park, Kan., and with offices in North America, Asia, Europe and Latin America. MIQ Logistics enables companies to improve their transportation network and overall supply chain efficiency by offering flexible logistics solutions supported by Web-native technology and global logistics management capabilities.

Tuesday, February 26, 2013

Barber to Succeed Brutto as President of UPS International


Atlanta, February 26, 2013 - Dan Brutto, a 38-year veteran and the architect of UPS's international strategy for the past five-and-a-half years will retire at the end of April. Brutto, 56, will be succeeded as president of UPS International by 28-year UPS employee Jim Barber, currently president of UPS Europe.

In his new position, the 52-year-old Barber will join UPS's Management Committee, comprised of the company's 10 most senior executives.

"Dan is the epitome of a global leader who understands what it takes to be successful on the world stage," said UPS Chairman and CEO Scott Davis. "He sets a strategy and then enables people to get large ideas accomplished. Dan's contributions will have a lasting impact on future generations of UPSers and we are grateful for his dedication."

UPS has introduced innovative services and technologies to help solve global needs of business customers and consumers. Davis said, "We remain bullish on Europe for the long-term and we are near completion of the three-year expansion of our main European air hub in Cologne. In addition, we are well positioned in Asia and other regions of the world. Our focus remains on deploying leading technologies to support our operations and provide unique customer solutions while expanding our global network and serving the needs of end consumers around the world."

"This is an exciting time," Davis added. "We have a strong growth strategy and we will continue to look for growth opportunities either organic or through acquisition. Jim will be very effective in expanding our international business while driving innovation, new services and improving profitability. The transition to Jim will be seamless and demonstrates the strength and depth of our management team."

Barber joined UPS in 1985 and has been a senior executive on the international management team since 2004. He has served in key operational and financial positions, including president of the UK & Ireland district, and chief operating officer for UPS Europe where he was responsible for the business performance across Europe, the Middle East and Africa (EMEA), as well as the region's sophisticated air and ground transportation network. In his current role he is responsible for all UPS operations in more than 120 EMEA countries and territories.


Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, our competitive environment, increased security requirements, strikes, work stoppages and slowdowns, changes in energy prices, governmental regulations and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.

About UPS:

UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.

Toyota to Export Venza Crossovers via Port of Brunswick U.S.-Assembled Cars to Russia, Ukraine


Savannah, Ga. – February 26, 2013 – Toyota announced today that it will begin exporting U.S.-assembled Venza crossover vehicles to Russia and Ukraine via the Port of Brunswick, Ga.

“This new partnership with Toyota highlights the Georgia Ports Authority’s commitment to unparalleled service for automakers,” said GPA Executive Director Curtis Foltz. “Because of our direct interstate access and two Class I rail services, we can move exports from inland factories more efficiently, as well as move import cargo to destinations across the Southeast.”

Colonel’s Island Terminal at the Port of Brunswick handled a record 612,489 auto and machinery units in CY2012, up from 497,404 in the previous year. Toyota is a new client for the GPA.

The Port of Brunswick handles approximately 10 percent of all U.S. roll-on/roll-off trade, and 12 percent of U.S. Ro/Ro imports. The port ranks third in the nation for auto and machinery trade, serving nearly two dozen domestic and foreign carmakers, as well as heavy equipment producers.

“Our facilities provide a transportation hub that is second-to-none in the United States,” said GPA Board Chairman Robert Jepson. “At Georgia’s deepwater ports in Brunswick and Savannah, ocean, road and rail come together to ensure that commerce is handled efficiently, environmentally responsibly and at the lowest cost possible.”

The Venza shipments, beginning this year, are expected to build upon Toyota’s all-time record export of more than 124,000 U.S.-assembled vehicles to 21 global markets in 2012, an increase of 45 percent over the prior year.

“We are proud that Toyota’s U.S. manufacturing operations are continuing to grow as a key supplier of vehicles for global markets, which is only possible thanks to the dedication and high-quality work of our team members here,” said Shigeki Terashi, president and COO of Toyota Motor North America, Inc.  “We expect the export of Venza vehicles to Russia and Ukraine will help further solidify our U.S. manufacturing base.”

Once production begins in April 2013, Toyota expects to export approximately 5,000 Venza vehicles per year to Russia and Ukraine. These vehicles will be built at the company’s Georgetown, Ky., plant, which employs about 6,600 team members and represents a $6 billion investment.  The Georgetown plant is the company’s largest manufacturing facility outside of Japan.

About Toyota:

Toyota (NYSE:TM) established operations in the United States in 1957 and currently operates 10 manufacturing plants, including one under construction.  There are nearly 1,500 Toyota, Lexus and Scion dealerships in the U.S., which sold over 2 million vehicles in 2012. Toyota directly employs more than 30,000 in the U.S. and its investment here is currently valued at more than $18 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from U.S. suppliers totals more than $23 billion.
For more information about Toyota, visit www.toyota.com or www.toyotanewsroom.com.

Georgia’s deepwater ports and inland barge terminals support more than 352,000 jobs throughout the state annually and contribute $18.5 billion in income, $66.9 billion in revenue and $2.5 billion in state and local taxes to Georgia’s economy. The Port of Savannah was the second busiest U.S. container port for the export of American goods by tonnage in FY2011. It also handled 8.7 percent of the U.S. containerized cargo volume and 12.5 percent of all U.S. containerized exports in FY2011.

DB Schenker: Distribution Center in Kunshan Starts Operations for KONE


(Berlin/Essen/Shanghai, February 26, 2013) - DB Schenker’s new 47,000 square meters distribution center for customer KONE, one of the global leaders in the supply of complete elevator and escalator solutions, has recently started operations.

The facility was inaugurated together with the investor company, Goodman in Kunshan Jinxi Eco-Industrial Park, after 13 months of construction and preparation. It is the largest DB Schenker warehouse in China and one of the largest DB Schenker facilities in Asia Pacific.

The facility unifies KONE’s previous warehouse locations around Kunshan in one warehouse. Due to KONE’s continuous success and strong growth in China, the company requires first class logistics services. With the new distribution center in Kunshan, DB Schenker has been able to provide the best solution to KONE.

The new warehouse is located near to KONE’s production factory and is storing finished products ready to be distributed throughout China and internationally.“47,000 square meters is a significant number, and for us at DB Schenker, this is in an important step on our way to become the leading logistics provider in China,” said Karl-Heinz Emberger, Managing Director North/Central China, Schenker China Ltd., at the opening ceremony.

Monday, February 25, 2013

Schneider National Earns Green Professional Status in Wisconsin Sustainable Business Council’s Green Masters Program


GREEN BAY, Wis. – (February 25, 2013) – Schneider National, a premier provider of truckload, logistics and intermodal services, has achieved the distinction of Green Professional from the Wisconsin Sustainable Business Council. As a Green Professional, Schneider National has performed actions in each of nine sustainability areas and has earned more than 200 points.

“Though our company is usually associated with the color orange, we have a long-standing commitment to going green,” says Steve Matheys, Schneider’s Chief Administration Officer. “Having an independent and reputable organization such as the Green Masters Program recognize us in this way is certainly a sign that we are indeed doing the right thing the right way – for our customers, our communities and our planet.”

“We are pleased to see continuous sustainable business improvement from Schneider National,” says Tom Eggert, Executive Director of the Wisconsin Sustainable Business Council. “This is the second year they have participated in the Green Masters Program, and we look forward to seeing the sustainability initiatives they implement in 2013.”

In 2012, Schneider National continued its 30-plus year commitment to operating one of the most energy efficient fleets in the industry. The company formed an Energy Committee to oversee energy-saving improvements at the company’s locations throughout North America. During the last 12 months, the committee managed energy audits at 14 of its facilities and adjusted facility and building energy usage based on the results. For example, new high-efficiency lighting was installed on the exterior of the company’s operating center in Portland, and interior lights in Schneider’s Green Bay buildings were changed from 32 Watt to 28 Watt (an energy savings of 12.5 percent).

The Wisconsin Sustainable Business Council works with businesses in the state interested in becoming leaders in sustainability. It serves businesses at all stages of development by educating, facilitating information exchange between members, and providing support. The council, which also hosts an annual business conference and issues an annual State of the State Sustainability Report, seeks to promote Wisconsin as a gathering place for innovative and sustainable business.

The Green Professional designation is the second-highest tier in the Green Masters Program established by the Wisconsin Sustainable Business Council. Candidates are judged on a comprehensive range of sustainability issues from energy and natural resource use to community outreach and purchasing. Over 130 Wisconsin businesses participate in the program where the top twenty percent achieve the highest “Green Master” designation. For more information, or a complete list of Green Masters Program participants, please visit http://www.greenmastersprogram.com/

About Schneider National, Inc:

Schneider National, Inc. is a premier provider of truckload, logistics and intermodal services. Offering the broadest portfolio of services in the industry, Schneider’s solutions include Van Truckload, Dedicated, Regional, Bulk, Intermodal, Brokerage, Supply Chain Management, Integrated Delivery and Port Logistics.

A $3.5 billion company, Schneider National has provided expert transportation and logistics solutions for over 77 years. For more information about Schneider National, visit www.schneider.com.

Thursday, February 21, 2013

PORT OF LOS ANGELES ENTERS INTO NEGOTIATIONS TO REDEVELOP PORTS O’ CALL VILLAGE


LA Waterfront Alliance Proposes New Retail, Restaurants, Hotel and Conference Center for 30-Acre Parcel on the LA Waterfront 

 SAN PEDRO, Calif. — Feb. 21, 2013 — The Los Angeles Harbor Commission has agreed to let Port of Los Angeles officials enter into exclusive negotiations with LA
Waterfront Alliance – a collaboration between The Ratkovich Company and Jerico Development – to redevelop the Ports O’Call Village, a 30-acre San Pedro waterfront property on the Port’s Main Channel and adjacent to San Pedro’s historic downtown business district.

“We applaud the Port for their vision and support in helping transform Ports O’ Call into a focal point of the new LA Waterfront,” said Los Angeles City Councilman Joe Buscaino. “The Port’s selection of LA Waterfront Alliance is an exciting first step for a project that will bring extensive investment, new jobs and tourism to the 15th District.”

“We were thrilled to receive such strong interest in redeveloping this location, which will serve as the crown jewel of the LA Waterfront in San Pedro,” said Port Executive Director Geraldine Knatz, Ph.D. “LA Waterfront Alliance’s vision for the new Ports O’ Call aligns very well with the goal to integrate our waterfront attractions and activities, generate jobs and attract visitors to the waterfront.”

“We’re excited for the opportunity to work with the Port and the San Pedro community to transform Ports O’ Call Village into a vibrant, world-class destination,” said Wayne Ratkovich, President and Chief Executive Officer  of The Ratkovich Company.  “We look forward to working with the Port, the community and all stakeholders to finalize the best possible plan for this site.”

The Ports O’ Call development concept submitted by LA Waterfront Alliance includes a mix of visitor-focused commercial retail and restaurants, a boutique hotel and conference center, open space for events, as well as a 13th Street gateway connecting the San Pedro community and the waterfront. The LA Waterfront Alliance concept had also suggested relocating the Port’s administration building, but this recommendation is not under consideration by Port staff.

The Port initially received eight proposals in response to its Request for Qualifications (RFQ) released in July 2012.  Proposals were reviewed by a five-member evaluation team, using specific criteria outlined in the RFQ:  the developer’s project vision for the site and how it would draw additional visitors to the waterfront; the developer’s qualifications and experience; the implementation, operation and sustainability strategy of the project; the financial capability of the respondent to carry out the project; and the ability to complete the project on schedule.

The Exclusive Negotiating Agreement (ENA) between the Port and LA Waterfront Alliance establishes a 240-day exclusive negotiating period, with a possible 120-day extension. Activities to be completed during this time include conducting a public outreach process, finalizing the development concept, and preparing financial and market analyses. The process will also determine if any further environmental assessment is required for the proposed project, though redevelopment of Ports O’ Call was already included as part of the San Pedro Waterfront Project Environmental Impact Report (EIR) approved by the Harbor Commission in 2009.

LA Waterfront Alliance is a collaboration of The Ratkovich Company and Jerico Development. The Ratkovich Company is a Los Angeles-based development company with 40 years of experience in commercial property development, construction, renovation and operations. Its flagship projects include, among others, the Hercules Campus at Playa Vista and The Alhambra office/retail/residential urban community complex in Alhambra.

Jerico Development is a San Pedro-based development firm that specializes in rehabilitating commercial buildings. Rehabilitated buildings completed by Jerico Development include the Brown Brothers, Gaffey and Grand Annex buildings in San Pedro, and the Loft building in downtown Long Beach. Jerico and affiliates also have developed high rise commercial office projects in Denver, as well as oilfield operations, master planned community entitlements and development in California, and mission critical facility operations and development in North Carolina.

Developed in the 1960s, Ports O’ Call Village is located just south of San Pedro’s historic downtown business and is within walking distance from the Port’s World Cruise Center, which sees hundreds of thousands of cruise travelers each year. Other attractions within walking distance include the USS IOWA Battleship museum and CRAFTED at the Port of Los Angeles, a large-scale permanent indoor craft marketplace fashioned from two WWII warehouses by the developer of the popular Bergamot Station Arts Center in Santa Monica.

The Ports O’ Call site includes 3,000 linear feet of rare water frontage and 375,000 square feet of retail and tourism-related entitled uses.  Located at the south end of the Harbor (I-110) Freeway, the site is conveniently accessible to downtown Los Angeles and other key areas of Southern California.

The Port of Los Angeles is America’s premier port and has a strong commitment to developing innovative strategic and sustainable operations that benefit the economy as well as the quality of life for the region and the nation it serves. As the leading seaport in North America in terms of shipping container volume and cargo value, the Port generates more than 830,000 regional jobs and $35 billion in annual wages and tax revenues. The Port of Los Angeles – A cleaner port.  A brighter future.


Matson Expands Savannah Operation


Expansion exemplifies part of a continued regional boom in the development of third-party logistics providers.   

Savannah, Ga. – February 21, 2013 – Matson Logistics, a leading provider of multimodal transportation, warehousing, and distribution services throughout North America, has established new distribution center space in Savannah.

“Our new operation expands on our ability to move retail goods in through the Port of Savannah,” said Mark Ferzacca, assistant vice president of sales for Matson Logistics Warehousing. “More companies are using East Coast distribution centers to have their product closer to a rapidly growing regional market.”
 
Matson has contracted for 65,000 square feet, with the ability to increase to 125,000 square feet. The move follows a September expansion to its Bryan County operation, which added 237,600 square feet to its previous 135,000 square-foot facility.

The latest development is located on Norwest Court in Pooler, Ga., within the building designated as Savannah D. The distribution center is less than two miles from Interstate 95, 10 miles from I-16 and within eight miles of the Port of Savannah. The property features 125,000 square feet of space, a clearance of 32 feet and 65 truck bays.

“Matson’s decision to expand its East Coast distribution center space in Savannah will provide its customers cost-effective and reliable access to 44 percent of the U.S. population,” said Georgia Ports Authority Executive Director Curtis Foltz.

The Port of Savannah forms a distribution center hub, with more than 4 million square feet of local warehouse space available, with an occupancy rate greater than 88 percent. There are 102 distribution centers across Georgia that are 500,000 square feet or larger.

Using Georgia’s deepwater ports to deliver goods much closer to Eastern U.S. markets cuts the cost of ground transportation.

"Our new Savannah distribution center, with its strategic location and room for expansion, directly aligns with the demands of a growing regional population," said Ferzacca.

GPA Board Chairman Robert Jepson said when companies decide to distribute goods from Georgia, it supports jobs in the logistics industry and beyond – but it also makes good business sense for the company.

“The Port of Savannah’s location as the most westerly of the Atlantic Coast ports makes it the gateway of choice for markets such as Atlanta, Birmingham, Memphis, Louisville, Charlotte and beyond,” Jepson said.

About Matson Logistics:

Matson Logistics is a leading provider of multimodal transportation, warehousing, and distribution services throughout North America. Known for our innovative solutions and financial strength and stability, Matson Logistics' people, processes and systems work together to deliver superior performance and value to our customers every day.

Georgia’s deepwater ports and inland barge terminals support more than 352,000 jobs throughout the state annually and contribute $18.5 billion in income, $66.9 billion in revenue and $2.5 billion in state and local taxes to Georgia’s economy. The Port of Savannah was the second busiest U.S. container port for the export of American goods by tonnage in FY2011. It also handled 8.7 percent of the U.S. containerized cargo volume and 12.5 percent of all U.S. containerized exports in FY2011.

Monday, February 18, 2013

JEFFREY TUCKER APPOINTED TO FMCSA SUBCOMMITTEE


Cherry Hill, NJ USA, February 15, 2013 - Jeffrey Tucker, CEO of Tucker Company Worldwide was appointed to the Federal Motor Carrier Safety Administration (FMCSA) Motor Carrier Safety Advisory Committee (MCSAC) CSA Subcommittee.  Mr. Tucker was appointed by FMCSA Administrator Anne Ferro.  CSA “Compliance, Safety, Accountability” is FMCSA’s initiative to improve large truck and bus safety and ultimately reduce crashes, injuries, and fatalities related to commercial motor vehicles.

The CSA subcommittee is a panel of 19 subject matter experts including motor carriers, bus companies, safety advocate groups and trade associations. These industry officials, as members of the MCSAC CSA Subcommittee provide counsel to FMCSA on a variety of issues relating to the design, implementation and efficacy of the CSA program.

CSA introduces a new enforcement and compliance model that allows FMCSA and its State partners to identify and contact a larger number of motor carriers who may need to address compliance and/or safety concerns.

Jeff is the CEO of Tucker Company Worldwide, Inc.; CEO & Co-Founder of Qualifiedcarriers.com, and has chaired the TIA Carrier Selection Framework Committee since 2006. Jeff has testified on CSA before Congress.

Tucker Company Worldwide, Inc. is America’s oldest privately held freight broker, and is based in Cherry Hill, NJ. Tucker specializes in arranging shipments of high value, high security, climate controlled and otherwise sensitive materials for some of the world’s best known brands. Tucker is active in its trade association and serves on a select committee reviewing motor carrier safety for the U. S. Department of Transportation.

Saturday, February 16, 2013

PEER REVIEWED - LQ’s ANNUAL 3PL SUSTAINABILITY STUDY and AWARDS PROGRAM (2013)


http://www.LQ3PLstudy.com
February 15, 2013, Toronto - Leading 3PLs and logisticians are invited to participate in LQ’s Annual 3PL Sustainability Study and Awards Program (2013) – with an opportunity to join the winners’ circle - after an impartial review by leaders and peers in the supply chain field.

LQ’s Third Annual 3PL Program builds upon LQ’s 18-year tradition of rendering compelling case studies to inspire your peers, stakeholders, clients and team.

The value of this part of LQ’s 3PL Program is clearly evidenced by the leadership of the Best LQ 3PL Performers in Sustainability from last year, and the 2012 winner’s story, featured at LQ Magazine, Marketwatch (the Wall Street Journal), the Globe and Mail, Reuters as well as other media organizations. See for yourself at: http://www.LQ3PLstudy.com .

LQ’s impartial team of evaluators, David Closs, Ph.D., Michigan State University and Thomas Goldsby, Ph.D., The Ohio State University, will share insights on the top 3PL performers in LQ’s Sustainability Program, and on the overall landscape of sustainability based on the information LQ garners in this process at LQ’s next Symposium, and in LQ Magazine. In addition, the finalists – the Top Performers in LQ’s 3PL Program – will have an option to present at LQ’s next Symposium.

This year LQ’s team has streamlined the application process to make it easier for your company to participate when you register at: http://www.LQ3PLstudy.com. Applications are due on April 26, 2013.

LQ’s 3PL Sustainability awards were established in 2011 to recognize practical and groundbreaking sustainability practices and thinking, with applications judged by an independent panel of business and academic leaders.  LQ’s team would like to express its appreciation to C.H. Robinson for underwriting LQ’s Third consecutive annual 3PL Sustainability Study and Award Program in 2013.

For further information, pleased contact:
Fred Moody | Editor & Publisher | fmoody@LogisticsQuarterly.com | LQ Magazine | p: 416-461-8355| LQ Inc. | 33 Hazelton Ave., Suite 74, Toronto, ON, M5R 2E3 |

Friday, February 15, 2013

Lodwick Transport Limited and Cam Hiltz Trucking Ltd. to Rebrand


Lodwick Transport Limited and Cam Hiltz Trucking Ltd. have been part of the Challenger Group for a number of years and now, as part of our ongoing growth strategy, they are rebranding as Challenger Climate and Challenger Bulk.
 
February 15, 2013 - Cambridge, ON - It is an exciting year for the Challenger Group as they embark upon the rebranding of their temperature controlled and waste haulage divisions. On March 1st, Lodwick Transport, a climate-control carrier, will be operating under the brand name 'Challenger Climate' and Cam Hiltz Trucking Ltd., their waste haulage division, will now be known as 'Challenger Bulk'.

The progression to rebrand the divisions comes on the heels of Challenger refreshing its corporate identity to a sleeker, smoother design. Lodwick, Hiltz, and Elgin Motor Freight Inc. have embraced the identity change, reinforcing a more cohesive public image as the Challenger Group of Companies. Challenger is a name you know, a brand you can trust. Rebranding means "a fresh new name and renewed focus to be more in line with the other members of the Challenger family, and to be a one stop shop for the shipping public," explains Geoff Topping, General Manager of Challenger Climate and Challenger Bulk. "Challenger Climate will continue to operate climate-controlled trailers, offering customers the ability to transport their goods fresh, frozen, or heated, and Challenger Bulk will specialize in moving bulk commodities, primarily in the waste management and recycling industries at this time."

Cam Hiltz Trucking Ltd. was founded in 1997 and was originally based in Newmarket, Ontario. Their focus was on waste haulage from the Greater Toronto Area to Michigan landfill sites and they were acquired by Challenger in 2002.

Founded in 1941 by Cliff Lodwick Sr., Lodwick Transport Limited was a third generation Canadian trucking company, highly respected within the trucking industry. Sharing Challenger's dedication to excellence in their employees, safety, and technology, Lodwick was the first Canadian carrier to offer remote temperature monitoring of freight on trailers for their customers. Acquired in 2007, Lodwick has been part of the Challenger Group for six years. "This change clarifies to the shipping public the strength, size and commitment behind these two great companies," explains Dan Einwechter, CEO and Chairman of Challenger.

As of March 1st 2013, the majority of the Challenger Climate and Challenger Bulk staff will be permanently relocated to 300 Maple Grove Road in Cambridge, Ontario, Challengers corporate centre. The Challenger Group will maintain a presence in the GTA with an office and yard space in Mississauga, ON, sharing space at 1905 Shawson Drive.

Challenger has been a North American leader in the supply chain industry since its inception in 1975. The Challenger Group employs more than 2,000 people and operates approximately 1,500 trucks and 3,300 trailers. As one of the largest privately owned truckload carriers in Canada, Challenger has been consistently recognized by its customers and within the industry for the outstanding quality of its services. In 2012, Challenger was once again given the honour of being recognized as one of Canada's 50 Best Managed Companies for the thirteenth consecutive year, and has been a Platinum member since 2007. Challenger is an active leader in many significant green initiatives, including LEED certification of their headquarters and SmartWay Transport partnership. In addition to their state of the art HQ facilities in Cambridge, Ontario, the Challenger Group has facilities in Montreal, Toronto, London, Mississauga, Vancouver, Calgary, Winnipeg, and Edmonton.

Thursday, February 14, 2013

Appointment to the Prince Rupert Port Authority


OTTAWA, Feb. 14, 2013 - The Honourable Denis Lebel, Minister of Transport, Infrastructure and Communities, today announced the appointment of Mr. Robert Bruce Ellis Hallsor to the Prince Rupert Port Authority for a three-year term.

"I am pleased that Mr. Hallsor has agreed to serve on the board of directors of the Prince Rupert Port Authority," said Minister Lebel. "The authority will benefit greatly from his legal expertise and wealth of experience in municipal, provincial and community organizations."

Mr. Hallsor is the managing partner at British Columbia's oldest law firm, Crease Harman, and runs a successful commercial practice with 30 partners and employees. He is a past president of the Victoria Bar Association, past national chair of the Canadian Bar Association section on Wills, Estates, and Trusts, and has worked for the provincial government. Mr. Hallsor holds a Juris Doctor law degree from the University of Victoria and a bachelor of arts in History from the University of British Columbia.

In addition, Mr. Hallsor has been recognized for his active and longstanding community volunteer work, which includes being a founding public member of the British Columbia College of Social Workers, sitting on the Provincial Child Care Council from 2003-2011and serving as honorary counsel for Scouts Canada in British Columbia and the Yukon. In 2003, he received the Queen's Golden Jubilee medal and in 2012 the Queen's Diamond Jubilee medal for community service.

The Prince Rupert Port Authority is the Canada Port Authority (CPA) established to manage the Port of Prince Rupert under the Canada Marine Act. Eighteen CPAs now make up Canada's national port system. The CPAs are non-share capital corporations incorporated under the Canada Marine Act that are of strategic significance to Canada's trade. Their effective operation contributes to Canada's global competitiveness.

UPS AND JABIL TO PROVIDE GLOBAL REVERSE LOGISTICS SERVICES


United Effort Leverages Logistics and Parts Planning Expertise to Provide Optimized Reverse Logistics Solutions

ATLANTA, Feb. 14, 2013– UPS (NYSE: UPS) today announced that it has formed a strategic collaboration with Jabil Circuit, Inc. (NYSE: JBL). UPS’s logistics and distribution business unit and Jabil Aftermarket Services will provide optimized reverse logistics solutions for return and repair programs to high-tech original equipment manufacturers, service providers and enterprises on a global scale.

By combining UPS’s warehousing, transportation, returns management and trade compliance capabilities with Jabil’s reverse logistics planning, repair and call center support, the UPS/Jabil collaboration provides a turn-key supply chain model that can drive efficiencies, reduce vendor complexity and enhance customer service.

“Jabil is excited to collaborate with UPS,” said Hartmut Liebel, chief executive officer, Jabil Aftermarket Services.  “By leveraging Jabil’s and UPS’s complementary aftermarket services and logistics expertise, customers now have access to a comprehensive suite of services from one source that meets all of their unique reverse logistics needs.”

The collaboration, supported by Jabil’s and UPS’s integrated systems and capabilities, provides flexible service models that accommodate customer return and repair demands that includes providing high-tech companies with access to strategically-located repair and distribution facilities near their customer base.  Specifically, the joint UPS/Jabil reverse logistics portfolio includes: order fulfillment, next and same day transportation, returns processing, whole unit and component repair, assembly, procurement and vendor management, planning and inventory funding, call center and tech support, trade compliance and the use of The UPS Store®  locations for product pick-up or drop-off.

“Our customers’ supply chains are becoming increasingly complex,” said Brad Mitchell, president of UPS global logistics and distribution. “They are looking for industry-leading high-tech aftermarket solutions to build more flexibility and convenience into their returns process.  The fact that UPS’s collaboration with Jabil already has resulted in success with several world-leading organizations, such as Dell Computers, highlights the value this solution can offer.”

“Dell has always been an innovator in the service parts reverse logistics solutions space. A clear example of this is when companies like Jabil and UPS are encouraged to come together and leverage their functional expertise on behalf of Dell customers,” said Timmy O'Dwyer, executive director, Dell Services Supply Chain.

UPS and Jabil are uniquely positioned to provide customized local services globally, with 1.8 million UPS pick-up and drop-off locations in 147 countries and 55 Jabil service centers in 21 countries.


About UPS:

UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.

About Jabil:

Jabil (NYSE: JBL) is an electronic product solutions company providing comprehensive electronics design, manufacturing and aftermarket product management services to global electronics and technology companies. Offering complete product supply chain management from facilities in 29 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Jabil common stock is traded on the New York Stock Exchange under the symbol, "JBL". Further information is available on Jabil's website: jabil.com

Wednesday, February 13, 2013

Greatwide Logistics and Cardinal Logistics Complete Merger, Creating an Industry Leading Dedicated


Contract Carriage and Diversified Logistics Services Provider

Concord, NC – (February 13, 2013) – Greatwide Logistics Services, LLC (“Greatwide”) and Cardinal Logistics Management, Inc. (“Cardinal”) today announced the successful completion of a merger of the two companies, creating a market leading logistics organization offering a broad service platform with annual revenues in excess of $1 billion.

The combined company’s dedicated contract carriage and delivery division will have one of the largest, most diverse dedicated fleet operations in the country and will be uniquely positioned to provide industry leading capabilities for its customers with over $850M in annual revenue, 5,000 drivers, 125 operating locations and demonstrated expertise across multiple industries, including grocery, bulk food, retail, metals and building products. The combination of Cardinal’s expertise in high touch, final mile company truck dedicated solutions with Greatwide’s expertise deploying high service, flexible owner operator based dedicated solutions will create a compelling customer value proposition. In addition, the combined company will continue to offer customers highly customized, value-added irregular route truckload, less than truckload, full service freight brokerage, managed transportation, and warehousing services across the U.S. and Canada.

John Tague, Chairman and CEO of the combined company, said, “We are excited that this transaction creates an industry leading logistics company that is supported by a strong customer base, experienced management team, best in class company drivers and owner operators and a differentiated technology platform that enables creative, low cost solutions for our customers.”

Vin McLoughlin, the newly appointed Vice Chairman of the combined company, said, “Combining the strengths of Greatwide and Cardinal puts us in an excellent position to serve our customers and continue both companies’ history of providing industry-leading service.”

Will Manuel, Senior Managing Director of Centerbridge Partners, L.P. (“Centerbridge”), a leading investment firm and majority owner of the combined enterprise, commented, “We are very excited by this merger as it combines two highly complementary companies that together will be able to offer enhanced service capabilities to all of our customers.”

About Greatwide:

Greatwide Logistics Services is a Dallas, TX, based privately held third-party logistics provider serving the United States and Canada. Greatwide offers an integrated service platform to customers including dedicated, irregular route truckload, less than truckload services, full-service truckload brokerage, warehouse-based logistics and managed transportation services. Greatwide is the largest for hire provider of dedicated refrigerated transportation in the United States.

About Cardinal:

Headquartered in Concord, NC, Cardinal Logistics Management is one of the country’s leading dedicated transportation solution providers. Cardinal’s logistics experts work directly with clients to optimize their supply chains by developing and implementing customized transportation solutions including specialized equipment and handling, and integrated technology. Cardinal’s services include dedicated contract carriage, home and jobsite delivery, life sciences logistics, bulk transport, transportation management, supply chain consulting, SaaS solutions, warehousing and distribution.

About Centerbridge:

Centerbridge Partners, L.P. is a private investment firm headquartered in New York City with approximately $20 billion in capital under management. The firm focuses on private equity and credit investments. The firm is dedicated to partnering with world-class management teams across targeted industry sectors to help companies achieve their operating and financial objectives.

Tuesday, February 12, 2013

XPO Logistics Acquires East Coast Air Charter


GREENWICH, Conn. — February 12, 2013 — XPO Logistics, Inc. (NYSE: XPO) today announced that it has acquired the operating assets of East Coast Air Charter, Inc. (ECAC), a non-asset, third party logistics business specializing in expedited air charter brokerage, with 2012 revenues of approximately $43 million. The cash purchase price was $9.25 million with no assumption of debt, excluding any working capital adjustments. The acquisition is expected to be immediately accretive to earnings.

ECAC was founded in 1997 to serve the on-demand, dedicated air charter market. Former owner William McBane will continue to lead the operation in Statesville, N.C. The acquisition expands the XPO Logistics offerings for expedited transportation, freight brokerage and freight forwarding.

Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, “We’ve acquired a company that we know very well as a long-time partner to our expedite division. ECAC has valuable synergies with XPO, including innovative proprietary technology and air carrier relationships that complement our over-the-road expertise. We are now in a much stronger position to capture just-in-time freight and cross-border Mexico movements. All of our XPO offices will sell air charter, giving us another competitive advantage as we build scale. Our acquisition pipeline is robust, with numerous prospects that fit our strategy for growth.”

About XPO Logistics, Inc:

XPO Logistics, Inc. (NYSE: XPO) is one of the fastest growing providers of non-asset based, third-party freight transportation services in North America. The company uses its relationships with more than 20,000 ground, sea and air carriers to find the best transportation solutions for its customers. XPO Logistics offers its services through three distinct business units: freight brokerage, expedited transportation and freight forwarding. The company serves more than 7,500 customers in the retail, commercial, manufacturing and industrial sectors through 59 locations, including 35 branches in the United States and Canada and 24 agent offices. http://www.xpologistics.com/

Forward-Looking Statements:

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include, but are not limited to, those discussed in our filings with the SEC and the following: economic conditions generally; competition; our ability to find suitable acquisition candidates and execute our acquisition strategy; our ability to raise capital; our ability to attract and retain key employees to execute our growth strategy; our ability to develop and implement a suitable information technology system; our ability to maintain positive relationships with our network of third-party transportation providers; litigation; and governmental regulation. All forward-looking statements set forth in this press release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this press release speak only as of the date hereof and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events.

Monday, February 11, 2013

Michelman Taps New European Managing Director


CINCINNATI, OH (February 11, 2013) – Michelman is pleased to announce the hiring of Mr. Jean-Marc Verhaeghe as the company’s new Managing Director, Europe.  Mr. Verhaeghe will be responsible for providing strategic leadership in Europe, across all five of Michelman’s global business units.  He will have a particular focus this year, on developing Michelman’s expanding infrastructure, including staff and physical resources while improving the customer experience.

Mr. Verhaeghe holds a degree in Chemical/Textile Engineering from the State School of Engineering of Ghent in Belgium.  His resume includes positions with the Honeywell Corporation in various director roles, the 3M Corporation, and most recently with Polyone as Director, Global Marketing, Specialty Engineering Plastics.  Mr. Verhaeghe’s background includes technical, commercial, operational and senior management experience.

According to Mr. Steve Shifman, President and CEO at Michelman, “Jean-Marc brings a wealth of global and local industry knowledge and experience, while working in multinational matrixed organizations.  His rich background and ability to deal with complex, global organizational structures such as the one we have at Michelman, makes him a perfect fit for this very important position.  He will serve Michelman, and ultimately our customers well.”


About Michelman:

Michelman is a global developer of water-based barrier and functional coatings for flexible film packaging, paperboard, and corrugated cartons; and water-based surface modifiers, additives and polymers for numerous industries including wood and floor care, industrial coatings, inks, fibers, composites, and construction products.  Michelman serves its multinational and regional customers with production facilities in the U.S., Europe and Singapore, and a worldwide network of highly trained field technical support personnel.

New Study from U.S. Xpress Reveals Industry Need for Better Transportation Management and Dynamic Optimization


More up-to-date data, better analytics and enhanced supply chain visibility needed to control costs and capacity

CHATTANOOGA, TENN. – February 11, 2013 – According to a recent survey of more than 400 logistics managers by leading transportation services provider U.S. Xpress Enterprises, only 59 percent of shippers use performance metrics to manage freight costs and only 43 percent are currently running or planning to implement a transportation management system (TMS).

The survey, which was conducted in conjunction with Peerless Research Group, also shows a strong preference for dynamic optimization with nearly three-fourths of all shippers preferring that their carriers use present, actual shipping data rather than historic data to set their rates, with less than 1 in 5 favoring the use of historic or static data.

In terms of shipping timeframes, the survey confirmed the industry’s interest in just-in-time shipping, with 41 percent booking freight one day in advance and more than four in five scheduling three or fewer days ahead. The top strategies shippers use for controlling freight costs are: Consolidating shipments (60 percent), improving decision making and planning utilizing reporting (58 percent), working with fewer partners (53 percent), optimizing internal resources (52 percent), implementing or planning TMS (39 percent), adopting KPIs for carriers (38 percent) and working with more carriers (33 percent).

The survey shows that only around 4 out of 10 shippers are currently using any tool(s) to assess shipping costs, relying instead on less sophisticated methods to gauge their shipping costs. Among the 59 percent of carriers evaluating their freight costs, the most common aspects of shipping being measured are spend by carrier (74 percent), cost by route (72 percent), on-time performance (68 percent), spend by shipment volume (66 percent) and cycle time and carrier capacity (32 percent each).

It is also clear from the study that many of those who are using a transportation management system are happy with it and 21 percent indicating their belief that they are using these tools to their fullest advantage and for multiple initiatives, from tracking and tracing and load and route optimization, to provide mode selection and real time tracking.

The study also showed that shippers are continually seeking to advance their operations.  Areas earmarked for improvement are load optimization – consolidation, backhauls, etc. (44 percent), electronic communication – EDI, XML (44 percent), billing and invoicing (39 percent), reporting capabilities (37 percent) and integration of logistics and transportation applications with other enterprise apps –ERP, WMS, etc. (34 percent).

Data sharing and supply chain visibility is another critical factor.  While nearly one-half of respondents think their organization has sufficient ability to share and exchange information with customers and suppliers, almost one out of five rate their company unfavorable in this area.

“The survey demonstrates that there is great variance among shippers in terms of the level of technology they employ in doing freight optimization,” said John White, executive vice president of sales and marketing, U.S, Xpress Enterprises. “However, regardless of what systems they are currently using, it is clear that more widespread and efficient use of transportation management systems, clearer supply chain visibility, improved analytics, enhanced cooperation and data sharing between carriers and shippers and more up-to-date data could go a long way toward optimizing loads and reducing costs for everyone involved.  It is critical for carriers and shippers to work together to find mutually beneficial solutions.”

To download a complete copy of the study, please visit: bit.ly/XULLbB.

About U.S. Xpress Enterprises:

Founded in 1985, U.S. Xpress Enterprises is the nation’s second largest privately-owned truckload carrier, providing a wide variety of transportation solutions throughout North America. We are committed to being at the forefront of safety compliance, using comprehensive training for our staff and drivers and ensuring our trucks feature the latest safety innovations. With a dedication to minimizing our impact on the environment, U.S. Xpress is a SmartWay Transport Partner and was honored with a 2009 SmartWay Environmental Excellence Award. U.S. Xpress Enterprises’ affiliates include Arnold Transportation Services, Smith Transport, Total Transportation of Mississippi, Xpress Global Systems, and Xpress Internacional. For more information, please visit www.usxpress.com.

Friday, February 8, 2013

Jones Lang LaSalle Helps Kenco Lease 692,000-Square-Foot Class A Space in Northern Maryland


Kenco secures largest block of Class A distribution space remaining in Baltimore market

BALTIMORE, Feb. 8, 2013 — Jones Lang LaSalle announced today that Kenco has signed a 692,000-square-foot lease at 521 Chelsea Road in Perryman, MD. Kenco, an integrated logistic services firm, will operate the new facility as a regional distribution center for consumer products.

The industrial building, completed at the end of 2012, was built by Ryan Commercial on a speculative basis and leased by Kenco within a month of its completion. It had been the largest block of Class A distribution space remaining in the Baltimore market.
Vice Presidents Dan Wendorf and Todd Hughes of Jones Lang LaSalle’s Industrial Brokerage team represented Kenco. Matt Ryan represented Ryan Commercial.

“We are pleased to have assisted Kenco in identifying the optimal East Coast location to serve its many customers,” Wendorf said. “This state-of-the-art, Class A distribution center will allow Kenco to operate efficiently and effectively.”

The 40-foot clear cross-dock building is located in an enterprise zone and designed for LEED certification. Its location on the I-95 corridor in Harford County, Marylandprovides centralized access to the New Jersey, Philadelphia and New York regions, the Baltimore-Washington corridor in the Mid-Atlantic and the southeastern United States.

“The I-95 corridor, from the Port of Baltimore through Harford County, continues to see a high level of industrial activity, and the lease is a testament to the market’s strength as a prime distribution location,” Hughes said. “Kenco joins a long list of users that are expanding within and locating to this market.”


About Kenco:

Kenco provides integrated logistics solutions that include distribution and fulfillment, comprehensive transportation management, material handling services, real estate management and information technology—all engineered for Operational Excellence. Woman-owned and financially strong, Kenco has built lasting customer relationships for more than 60 years. Kenco’s focus is on common sense solutions that drive uncommon value. Learn more at www.kencogroup.com. Also, connect with Kenco on Twitter, Facebook, LinkedIn and the Kenco Blog.

About Jones Lang LaSalle:

Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.