For
Immediate Release
PBB
Global Logistics Expands its Capabilities
in Food Transportation through Strategic
Acquisition
Fort
Erie, Ontario –September 16,
2003 – PBB
Global Logistics announced today it
has acquired Carrier Connection International
(CCI), a specialized provider of third-party
logistics services for the North American
food industry, as part of PBB’s
strategy to enhance its integrated
logistics solutions.
Founded
eight years ago, CCI is a private Canadian
company with more than 250 clients, relationships
with some 1,200 carriers who specialize in
the movement of perishable food products and
operations in Ontario, Missouri, Manitoba and
Texas.
“This
acquisition is a classic win-win transaction,”said
Mike Scott, President & CEO, PBB Global
Logistics. “PBB and CCI win because we
can now share important complementary capabilities
and expertise that will drive growth. More
importantly, we believe our clients win because
we can offer them a more complete, end to end
solution that encompasses both temperature-controlled
logistics applications as well as Customs and
trade solutions.”
According
to Mr. Scott there is a significant need for
these combined services. With heightened trade
security and compliance requirements, cross
border shippers need Customs and trade solutions
more than ever. PBB has the expertise to provide
such services. Furthermore, the food industry
requires carriers with temperature-controlled
experience to move perishable items on a just-in-time
basis. It is often observed that there is a
tremendous imbalance between available carriers
and regional food supplies. This imbalance
has become more acute over the years, which
is why CCI’s revenues have grown substantially.
“CCI’s
value proposition is clear,”said John
Ferguson, Vice President, Sales & Marketing,
PBB Global Logistics. “By forging relationships
with so many different carriers, and then tracking
their movements throughout North America, CCI
is able to more efficiently harness their capacity,
which means solving a critical need for the
food industry.”
“The
purchase of CCI is absolutely consistent with
our objective of increasing our integrated
logistics network and service offerings,”said
Mr. Scott. “We look forward to welcoming
CCI’s clients and its employees and together,
continue growing our position in the temperature-controlled
industry.”
PBB
Global Logistics is a leading provider of
third party international logistics services,
facilitating the movement of goods across
North America and around the world. Founded
in 1946, PBB has expanded its core Customs
brokerage and freight operations and now
provides supply chain solutions from the
point of origin of goods to the point of
consumption. With approximately 900 employees
in over 70 strategic locations throughout
North America and an established global network
of logistics service providers, PBB has the
technology, expertise, and infrastructure
to meet every supply chain need. PBB Global
Logistics is a wholly owned subsidiary of
PBB Global Logistics Income Fund with units
trading on the Toronto Stock Exchange under
the symbol PBB.UN.
For
more information on CCI visit the website at. www.carrierconnection.com
For
more information contact:
1-800-924-4466 ext. 3634
info@pbb.com
www.pbb.com
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