JAMAICA, N.Y., April 10 /PRNewswire-FirstCall/ -- Janel World Trade, Ltd. (OTC Bulletin Board: JLWT), a full-service global provider of integrated logistics services, today announced the reconfirmation and expansion of a three-year contract to ship containers of chemical catalyst to a customer for use in the oil refinery industry in the Middle East.
"We are pleased to announce that our customer has elected to reconfirm its three-year contract with Janel after a review of our performance during the first twelve months of the relationship," stated James N. Jannello, Chief Executive Officer of Janel World Trade, Ltd. "This represents our first contract for the logistical management of shipments of specialized chemical catalysts that are used in the oil refining industry. The customer has increased the estimated number of container shipments by 25%, from 400 annually to 500 annually. We currently expect to generate $1.5 million to $1.8 million in gross revenues during the second year of the contract."
About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics services, including domestic and international freight forwarding via multi- modal carriers, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta) and the Far East (Hong Kong, Shanghai, and Shenzhen), the Company provides the comprehensive services necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.
Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTC Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.net.
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.
For further information, please contact:
RJ Falkner & Company, Inc., Investor Relations Counsel at (800) 377-9893 or
via e-mail at info@rjfalkner.com
SOURCE Janel World Trade, Ltd.
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