The Logistics Company, Odyssey Logistics & Technology (OL&T), Posts Earnings Growth Above 30 Percent
Company continues to invest in technology, infrastructure and acquisitions
DANBURY, Conn.--(BUSINESS WIRE)--Adding to its consistent record of achieving double-digit, year-over-year growth, OL&T posted 2013 growth of 32%. This was accomplished by continued expansion of services through both organic growth and strategic acquisitions.
“As a lead logistics service provider, we continued to grow our customer base in 2013 by providing value-based transportation solutions within each of the diverse markets we serve”
“We are very proud of this result and view it as evidence that our model of offering a broad selection of services supported on a global technology platform is the correct response to constantly evolving client requirements and changes in both the domestic and global markets,” said OL&T President and Chief Executive Officer, Bob Shellman. “While organic growth is a main focus, we constantly study additional vertical market opportunities to identify acquisitions where we believe we can drive value while expanding our global services capability,” Shellman concluded.
During 2013, through its affiliate, OL&T FoodTrans LLC, OL&T acquired the bulk liquid food products transportation business of Palmetto, FL.-based Hawaii Intermodal Tank Transport. This acquisition positioned OL&T as a world-leading operator of insulated/refrigerated food grade intermodal tanks. OL&T now operates the largest fleet of double insulated and refrigerated ISO Tanks exclusively dedicated to transporting food-grade products.
“As a lead logistics service provider, we continued to grow our customer base in 2013 by providing value-based transportation solutions within each of the diverse markets we serve,” added Executive Vice President and Chief Operating Officer, Cosmo Alberico. Alberico continued, “This consistent year-over-year growth is driven by our ongoing investment in strategic acquisitions, expansion and enhancement of our technology capabilities and sharp focus on operational excellence in each of the markets we serve.”
The OL&T logistics network spans throughout North America, Europe and Asia, serving all modes of transport with coverage in more than 200,000 transportation lanes and over 100 ports worldwide. OL&T deploys a proprietary technology platform for its clients and suppliers, facilitating collaborative activities that drive significant cost savings from the network while improving visibility of cargo movements and customer service.
Odyssey Logistics & Technology Corporation (OL&T) is a global lead logistics solutions provider offering a broad array of services to support the shipment of cargoes, estimated at over $60B, moving both domestically and internationally to over 100 ports around the world. With operations in North America, Europe and the Far East, OL&T operates in all modes of transport with TL/LTL trucking, containership, rail, air, and the more complex areas of bulk transport including bulk truck, ISO Tank, railcar and tanker, as well as food-grade product lines. OL&T leverages four main components to drive process improvements and savings for clients: supply chain network evaluation and design; a patented, web-based information technology infrastructure; proven operational processes; and volume aggregation that provide economies of scale for greater efficiencies. In addition to fully-managed logistics services, OL&T also offers individual 3PL services that include truck brokerage, intermodal transportation, customs brokerage, freight forwarding, facilities management, rail fleet management, sample and small order distribution and more.
The Odyssey Global Logistics PlatformSM features a transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world. WIN (Web Integrated Network) offers a scalable technology solution with an accelerated deployment and faster time to value.