ROSLYN, N.Y., May 3, 2016 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global" or the "Company"), a company engaged in shipping, chartering, logistics and related services, today announced that it has signed a memorandum of understanding (the "MOU") with Yaxin International CO., Ltd. ("Yaxin International"), an Ontario, California based company that ships goods into the United States. Pursuant to the MOU, the Company's subsidiary Sino-Global Shipping LA Inc. will provide Yaxin International with logistics services that include cargo forwarding, trucking and customs declaration and filing.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We are pleased to partner with Yaxin International to provide logistic services for their importing needs. This MOU signifies the first customer agreement for our Los Angeles based subsidiary, and we expect to report revenue in our U.S. operations during the current fourth quarter. We intend to work together with Yaxin International towards the fulfillment of their objectives for this project and will leverage our strengths and expertise within the logistic services industry to assist in meeting their long term goals. We are currently in negotiations with other customers that will help to further our expansion efforts within the United States. We look forward to keeping our shareholders abreast of the Sino-Global's progress."
Mr. David Wang, President of Yaxin International, commented, "We believe that Sino-Global Shipping LA is the perfect fit to assist with our logistic services within the United States. The knowledge and expertise of the company will lend itself nicely to the U.S. market and we are proud to be the company's first client through its newest subsidiary."
About Sino-Global Shipping America, Ltd.
Founded in the United States in 2001, Sino-Global Shipping America, Ltd. is a company engaged in shipping, chartering, logistics and related services. Headquartered in New York, Sino-Global has offices in Mainland China, Australia, Canada and Hong Kong. The Company's current service offerings consist of shipping agency services, shipping and chartering services, inland transportation management services and ship management services. Additional information about Sino-Global can be found on the Company's corporate website at www.sino-global.net. The Company routinely posts important information on its website.
Forward Looking Statements
No statement made in this press release should be interpreted as an offer to purchase any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties as identified in Sino-Global's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. Sino-Global undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact Information
The Equity Group Inc.
Adam Prior
Senior Vice-President
(212)-836-9606 / aprior@equityny.com
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