My OperaPROFIL: CARGO CONNECTION LOGISTIC CORP.
Monday, September 26, 2005 10:49:23 PM
Portail de Cargo Connection logistics Corp.
Cette entreprise est spécialisée dans le domaine de la logistique du transport aux États-Unis et bénéficie, par les investisseurs, d'un certain culte. Cargo semble vouloir profiter du moment afin de mieux se connaître sur la scène intérieure comme en fait foi ce communiqué de presse. Une bonne nouvelle en soi qui devrait amener son titre boursier à la hausse dès demain.
Press Release Source: Cargo Connection Logistics Holding, Inc.
Cargo Connection Logistics Corp. Reports Immediate Impact From Miami CFS License
Monday September 26, 4:01 pm ET
Company Generates Revenue from License in First Week Despite Closures Due to Hurricane Rita
Monday September 26, 4:01 pm ET
Company Generates Revenue from License in First Week Despite Closures Due to Hurricane Rita
INWOOD, N.Y.--(BUSINESS WIRE)--Sept. 26, 2005--Cargo Connection Logistics Holding, Inc. (OTCBB:CRGO - News), today announced that its wholly owned subsidiary, Cargo Connection Logistics Corp., reported immediate revenues from its recent approval by U.S. Customs as a bonded Container Freight Station (CFS) in Miami which became effective Friday, September 16, 2005.
A/S: 750,000,000
O/S: 496,820,360
The new license allows the Company to accept freight that has not yet cleared United States Customs and either deliver the freight in Miami or allow the freight to be transferred beyond Miami to its final destination within the U.S. For the past four years the Miami facility has operated as a bonded receiving station that only allowed the company to accept inbound freight that was not destined for Miami.
According to Jesse Dobrinsky, President of Cargo Connection Logistics Corp., despite the closures of the Miami facility on Monday and Tuesday of last week because of Hurricane Rita, the Company was still able to generate revenues from the CFS license.
"We knew the new CFS license would increase sales but we didn't realize the impact would be so immediate," said Dobrinsky. "Both Sovereign Logistics and Scanwell Logistics began running ocean freight through the facility as a result of our increased capabilities at that facility."
New York-based Sovereign Logistics, which leases office space at Cargo's 36,500 square foot Miami facility, has extensive operations in Central and South America that can, according to Dobrinsky, fully utilize the newly licensed CFS facility.
"Because of CAFTA, a comprehensive trade agreement between Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and the United States, we expect the Miami Gateway volumes to continue to grow," said Dobrinsky. "By eliminating tariffs on U.S. goods, exports and providing comprehensive access to a wide range of service sectors, CAFTA levels the playing field."
Dobrinsky, who spent last week at the Miami facility for the opening of the container freight station, said the Company has also been approached by other businesses concerning utilizing the Cargo Connection Logistics system.
"What's particularly gratifying about this heightened interest in our Miami facility is that it not only includes container freight station operation business, but it will also lead to increased trucking volume out of Miami," said Dobrinsky.
Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp. and Mid-Coast Management, Inc., which are both headquartered in Inwood, NY. The Company also has offices in Atlanta, Charlotte, Chicago, Columbus, Miami, New York and Pittsburgh. The companies provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. Currently the two companies have a total of 88 full-time employees.
About Cargo Connection Logistics Corp./Mid-Coast Management, Inc.
Cargo Connection Logistics Corp. 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, especially through the Gateways of Chicago, Illinois, JFK, New York, Miami, Florida or Atlanta, Georgia, with service areas throughout the Unites States and North America. Mid-Coast Management, Inc. is a container freight station specifically designed to handle internationally arriving freight for the major retail suppliers. Since its inception, Mid-Coast Management, Inc. has developed relationships with many retailers and also works with Freight Forwarders from around the world.
Additional information about Cargo Connection can be obtained at its website
http://www.cargocon.com
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.
Contact:
Source: Cargo Connection Logistics Holding, Inc
