Optimized Transportation Management Announces Signing of Letter of Intent With Owner Operator Based Carrier Company Reporting Revenue of $7 Million
PITTSBURGH, PA, Nov 03, 2010 (MARKETWIRE via COMTEX) -- Optimized Transportation Management, Inc. (OTCBB: OPTZ), a supply chain logistics company, has signed a letter of intent to acquire EXP, Inc., an owner operator based carrier in Chattanooga, TN operating 35 trucks and providing service to a customer base through the Southeast. They also operate a Logistics division. Total revenues are in excess of $7 million.
OPTZ's business plan is to build a full service supply chain logistics company by developing a management system for midsized manufacturers and distributors, thereby providing the necessary transportation services to complement the system and eventually meeting 100% of the customer's logistical needs.
Larry Berry, President and Chief Operating Officer of OPTZ, said, "The addition of Express to our Company will allow us to expand our service in the truck load and logistics markets. It will allow us to add other key agents in the van truck load arena. We are excited about the addition of this well-operated company and the extensive expertise it will provide our operation. This acquisition will allow OPTZ to offer additional services to its customers and will complement the recent acquisition of Light Express, a truck load flatbed company."
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About Optimized Transportation Management, Inc.
Optimized Transportation Management, Inc. is growing to become a full-service supply chain logistics company. The Company has begun implementing its plans for helping great companies discover, manage and execute their most effective global supply chain strategies. We exist to add real, measurable value throughout our customers' fulfillment process -- the accent is on customers. Our team, technology and value-added solutions allow organizations to have world-class visibility, information and controls without disrupting existing plans, processes, partnerships and information systems.
Our acquisition strategies focus clearly on our ability to provide end to end services for growing global opportunities. We will provide clients with global freight forwarding services, global document management, product staging, a powerful information technology that supports tight integration and total visibility among global factories, suppliers, and end-user customers sourcing product globally.
Additionally, we will focus on managing warehouse operations in support of existing clients and potential new clients, supporting both domestic and global supply chain strategies. We will operate each of our divisions independently, but sell and add real measurable value collectively. In addition to the synergies, this approach ensures the quality of our internal operations, but our joint capabilities provide significant value to our clients.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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