Odyssey Logistics & Technology Posts Earnings Growth of 60%+
Danbury, CT (January 27, 2015) — Odyssey Logistics & Technology Corporation (Odyssey) announced today that earnings grew more than 60% in 2014, continuing a trend of consecutive years of double digit year-over-year revenue and earnings growth. The increase was fueled by strong organic performance, as well as continued acquisition strategy execution.
“Our earnings reflect successful focus on providing value-added services and global capabilities for both our established and newly acquired clients across all transportation modes. With a workforce of more than 1,200, our expertise supports our clients’ evolving needs and the ever-changing trade environment,” said Bob Shellman, CEO. “We continue to improve our capabilities through expanded global presence, innovative technologies, and strategic acquisitions.”
In early 2014 Odyssey acquired the businesses of CMI Freight-Trans and Steel Wheel Transfer which, operating together as CMI Logistics LLC (CMI), form a leading intermodal logistics provider to the metals industry. CMI utilizes the Load and Roll Pallet system that was invented at CMI Freight-Trans, providing cost effective and secure shipment of ferrous and non-ferrous metals throughout North America. Odyssey acquired Alternative Distribution Systems Logistics Company, Inc. (ADS Logistics) in August, further strengthening its position in metals logistics. ADS Logistics offers intermodal services, flatbed trucking and warehousing for metals customers.
“In addition to extending our intermodal transportation offering this year, we expanded our operational presence in China and into Mexico, and enhanced U.S. performance with new technologies and personnel,” said Cosmo Alberico, Chief Operating Officer and CFO. “Our track record of strong growth is driven by the successful acquisition and integration of strategically targeted businesses, advancements in technologies that improve our clients’ logistics processes, and diligent focus in the area of operational excellence for the markets we serve. “
Odyssey Logistics & Technology Corporation (Odyssey) is a global 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, Odyssey operates in all modes of transport with TL/LTL trucking, containership, rail, air, and bulk transport including bulk truck, ISO Tank, railcar and tanker, as well as food-grade product lines. Odyssey 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, Odyssey 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.