Year-over-year revenues through May up 93 percent with profitable earnings increasing three fold
DANBURY, Conn., June 7, 2011 /PRNewswire-Asia/ -- Continuing on a rapid growth strategy, Odyssey Logistics & Technology Corp. (OL&T), a leading global logistics and transportation service provider, today announced that top line revenues in 2011 grew 93 percent through May when compared with the same period a year ago.
According to company CEO and President, Bob Shellman, OL&T's expansion is being attributed to continued double-digit organic growth as well as the successful execution of its acquisition plan. "OL&T has completed four strategic acquisitions over the past 14 months. Our continued global expansion also is a factor in OL&T's growth as we have expanded beyond our North American and European offices with new customer service centers in Shanghai and Tokyo. This now allows us to efficiently service the Asian market," said Shellman.
With these acquisitions, OL&T has been able to broaden its service capabilities well beyond servicing the chemical and process industries. "As a result of our recent investment in acquisitions and expanding our operations, customers of all sizes and industries will benefit from Odyssey's vast portfolio of managed logistics and transportation services. Our services provide clients with enhanced control, improved service quality and bottom line benefits within a company's delivery component of their supply chain," said Cosmo Alberico, executive vice president and chief financial officer, OL&T.
"Our continued focus in growing and expanding OL&T operations in the U.S. and abroad as well as acquiring high-value, service-oriented companies within the logistics space better positions OL&T to deliver a wide range of cost-effective logistics services to our customers," added Shellman.
About OL&T
Odyssey Logistics & Technology (OL&T) delivers a comprehensive portfolio of managed logistics, international freight forwarding, carrier management, supply chain consulting, and third-party services. The Odyssey Global Logistics Platform (SM) is OL&T's technology infrastructure, and features a proprietary net-native transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world.
With double-digit average annual revenue growth for the last five years, OL&T moves products with more than $55 billion in value between 185,000 origins and destinations and 220 ports worldwide. The company has received recognition as a SmartWay Partner by the EPA and is a Partner in the American Chemistry Council's Responsible Care® Initiative. For more information, visit www.odysseylogistics.com.
