Janel World Trade Group Announces Expansion of Contract to Deliver Chemical Catalyst...
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Janel World Trade Group Announces Expansion of Contract to Deliver Chemical
Catalyst to Oil Refining Industry
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.
Investor Relations Counsel of RJ Falkner & Company, Inc., 1-800-377-9893,
info@rjfalkner.com, for Janel World Trade, Ltd.
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