Shanghai, China
ALC Advisors, a leading Shanghai-based advisory firm specializing in finding and arranging strategic partnerships, acquisitions and alliances, announced that it has been retained by Velocity Express Corporation (NASDAQ: VEXP), the largest United States provider of time definite regional delivery solutions. to assist Velocity Express in facilitating its Asian strategy as a key part of its Global Alliance. ALC Advisors' (www.alcadvisors.com) key professionals have a long track record of arranging ground breaking Sino-US joint ventures, including recent transactions with Shanghai Aerospace, Spalding Corporation and Anthony International.
The international express delivery market is estimated to be a $20 billion industry, with 2.1 million shipments daily and projected annual growth rates of 10%. Cargo moving within and between the United States, Asia and Europe represents about 75% of the international express delivery market, and will comprise the majority of new business that Velocity Express is seeking to attract with ALC's mandate.
Preliminary research conducted by ALC indicates that national and regional transportation providers in Asia rely on integrators for their deliveries to the United States and have little or no access to the US export market. In addition, these logistics providers are limited in their use of technology, a feature that is a competitive advantage provided by Velocity Express through its proprietary, advanced chain of custody and automated track and trace capability. An alliance with Velocity Express would facilitate access to complementary markets and advanced technology solutions and would greatly enhance volumes and service levels for these providers.
Dale Colling, Founder and CEO of ALC Advisors stated, "We are excited to be initiating the first significant step of the Asian component of Velocity's Global Alliance. We are confident that our efforts will expand Velocity's geographical and service offerings for their customers, many of whom have significant and growing operations in Asia, while providing an effective global growth solution for a prospective partner here in Asia. ALC Advisors' task is to aggressively help Velocity find the right partner in China and arrange a successful, mutually beneficial long term alliance."
Velocity Express Chairman and CEO, Vince Wasik stated, "China is strategically important for our global alliance initiative because it is the dominant supplier to the U.S. retail industry. We look forward to working with ALC Advisors as we identify the appropriate strategic partners."
About ALC Advisors
Based in Shanghai, ALC Advisors is an advisory firm specializing in finding and arranging transactions with strategic partners, manufacturing partners and companies for acquisition. Recent engagements include assisting Pitney Bowes in finding and negotiating with a manufacturing partner, Shanghai Aerospace; Spalding Corporation in negotiating a strategic partnership; and Anthony International, the leading manufacturer and distributor of commercial glass refrigerator doors in the world, in finding and negotiating the acquisition of a leading Chinese competitor. ALC Advisors' key principals have been doing business in China since the early 1980's and have arranged some of the most notable joint ventures in China, including Beijing Jeep, Hua Mei Communications and the Great Wall Hotel joint ventures. See www.alcadvisors.com.
Source: Business Wire (Business Wire India)