Cargo Connection Logistics Establishes a Memorandum of Understanding to Take to the Air in China and the Pacific Rim
Last Update: 8:30 AM ET Apr 5, 2006
INWOOD, NY, Apr 05, 2006 (MARKET WIRE via COMTEX) -- Cargo Connection Logistics Holding, Inc. (CRGO :
cargo connectn lgstcs hldg inc com CRGO0.01, 0.00, -1.9%) today announced that its subsidiary, Cargo Connection Logistics - International, Inc. (CCLI), has executed a Memorandum of Understanding (MOU) with ASG Aviation Services Group Inc. (ASG) of Dallas, Texas.
The MOU creates the basis and a platform for the companies to develop a joint venture which the companies believe will yield increased global business opportunities, both independently and in cooperation with each other. CCLI provides full spectrum logistics programs to its global client base while ASG provides specialized global expeditionary and scheduled air logistics options expanding the breadth and depth of multi-modal logistics solutions for the client.
CCLI and ASG separately, and as a joint venture logistics partnership, possess distinctive and supportive competencies which broaden the proposed Joint Venture which is outlined in the MOU.
"The competencies, capabilities and resources of the partners make us a unique team with complementary focus and unique skill sets establishing a world-class third-party logistics presence with common orientation and unique talents complementing the enterprise," said Tom Uglialoro, President and CEO of ASG.
"ASG brings a strong air cargo philosophy and capability to the company," said Jesse Dobrinsky, CEO of Cargo Connection Logistics Holding, Inc. "ASG's ability to field dedicated leased cargo aircraft programs to carryout agile global and regional feeder flight operations brings to CCL the means to affect domestic and international logistics markets.
"Once the joint venture is complete, we will outreach concerning business opportunities from China and the Pacific Rim for the Company's expansion into and out of these business markets," said Dobrinsky.
"Controlling our own aircraft will provide us with a presence in the Pacific Rim which most small forwarders have not even thought about," said David Quach, President of Cargo Connection Logistics - International, Inc. "This will enable Cargo Connection Logistics to expand its business in the areas we are concentrating on in Asia and the Pacific Rim. I am very pleased with the MOU and look forward to leveraging the joint venture. My primary goal will be to make Cargo Connection Logistics - International a major player in the logistics business in China and the Pacific Rim as the Company embarks on its goals and objectives to expand its international operations. The addition of ASG to the Cargo Connection team will help us accomplish that goal."
The Company will now focus its attention on the international arena. Its primary focus will be to secure business from origins around the world with its initial focus on the Pacific-Asian Rim. Dobrinsky said that they anticipate this will be accomplished through some of the Company's recently announced joint ventures.
About Cargo Connection Logistics Holding, Inc.
Company: Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Cargo Connection Logistics - International, Inc. (formally Mid-Coast Management, Inc.), which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, GA; Charlotte, NC; Chicago, IL; Columbus, OH; Miami, FL; New York, NY; Pittsburgh, PA, and San Jose, CA. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. Currently the two companies have a total of 87 employees.
Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. They have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics' website is www.cargocon.com. |
