Press Releases: 02/07/2006 Performance Fibers Outsources Transportation and Logistics to Odyssey DANBURY, Conn. – Feb. 7, 2006 – Odyssey Logistics & Technology Corporation, a provider of global transportation and logistics services for process manufacturers, today announced that Performance Fibers, Inc., one of the world’s leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics, has signed a multi-year outsourcing contract and completed the transfer of its outbound North American logistics needs to Odyssey. Recently spun off from its parent company Honeywell International, Performance Fibers found itself in immediate need of a full suite of global logistics services. Performance Fibers sought a service provider to manage its requirements in all transportation modes including truck and ocean. Odyssey will also provide international freight forwarding and manage the Customs House Broker services required to meet customer needs. Odyssey was selected because of its “one stop shop” capabilities combined with proprietary technology that will be deployed in support of the global business. “Odyssey demonstrated deep industry experience and completed a quick turnaround from the start of our relationship,” Karen Lowman, Transportation & Logistics Manager for Performance Fibers. “From day one, Odyssey’s actions confirmed that they could not only handle our business, but also had the know-how and agility to make critical changes in record time. Having one single point of contact for all shipments and logistics needs gives us the confidence we need to focus on our core competencies.” Odyssey manages all aspects of the supply chain with a full suite of transportation services from ocean to over the road. Through its state-of-the-art integrated transportation management system and global network of service providers, Odyssey performs cargo planning, tendering, shipment visibility and configurable event management, freight audit and payment and management reporting. From the start of its relationship with Performance Fibers, Odyssey has acted quickly, transitioning all logistics for domestic shipping in just three weeks and then, transitioning to promptly handle the export shipments. Odyssey’s transportation management technology backbone, the Odyssey Global Logistics PlatformSM, will connect directly to Performance Fibers’ Enterprise Resource Planning system to provide a seamless, all-inclusive transition for logistics needs. With Odyssey, Performance Fibers will have complete visibility into all freight movement and logistics activities. The company plans to complete a transition to full data interchange by the end of the first quarter of 2006. “Transportation and logistics management are fundamental components of Performance Fibers’ business success,” said Robert Shellman, Chief Executive Officer for Odyssey. “We are very proud that Performance Fibers has put its trust in Odyssey.” About Performance Fibers Performance Fibers, an affiliate of Sun Capital Partners, is one of the world’s leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics. With manufacturing facilities in North America, Asia and Europe, its products are used in a wide range of consumer and industrial applications. Formed in December 2004, the business was formerly part of Honeywell International. For more information, visit www.performancefibers.com. Sun Capital Partners, Inc. is a leading private investment firm focused on identifying leveraged buyout and investment opportunities in market-leading companies that can benefit from the expertise and experience of Sun Capital’s in-house operating professionals. Sun Capital Partners has offices in Boca Raton, Los Angeles, New York, and London. With more than $2.5 billion of capital under management, affiliates of Sun Capital Partners have acquired more than 90 companies throughout the world with consolidated sales in excess of $20.0 billion. For more information about Sun Capital Partners, Inc., please visit www.SunCapPart.com. About Odyssey Logistics & Technology Odyssey Logistics & Technology provides global logistics management services to the chemical industry and other process manufacturers. Odyssey enables its customers to outsource any part of the management and transportation of their raw materials and finished goods, helping these companies save money through reduced transportation and infrastructure costs, measurable customer service and process improvements, and enhanced data quality and management. The Odyssey team of chemical engineers and logisticians brings unparalleled expertise to the logistics supply chain in all modes of transport. The Odyssey Global Logistics Platform is a transportation management infrastructure that serves as the technology backbone to its service offering. Odyssey International is a licensed export freight forwarder and wholly owned subsidiary of Odyssey Logistics & Technology, managing exports to more than 80 countries. The company is backed by investors Trident Capital, LogiSpring, Boston Millennia Partners, CMEA Ventures and RRE Ventures. Back to Press Releases
DANBURY, Conn. – Feb. 7, 2006 – Odyssey Logistics & Technology Corporation, a provider of global transportation and logistics services for process manufacturers, today announced that Performance Fibers, Inc., one of the world’s leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics, has signed a multi-year outsourcing contract and completed the transfer of its outbound North American logistics needs to Odyssey. Recently spun off from its parent company Honeywell International, Performance Fibers found itself in immediate need of a full suite of global logistics services. Performance Fibers sought a service provider to manage its requirements in all transportation modes including truck and ocean. Odyssey will also provide international freight forwarding and manage the Customs House Broker services required to meet customer needs. Odyssey was selected because of its “one stop shop” capabilities combined with proprietary technology that will be deployed in support of the global business. “Odyssey demonstrated deep industry experience and completed a quick turnaround from the start of our relationship,” Karen Lowman, Transportation & Logistics Manager for Performance Fibers. “From day one, Odyssey’s actions confirmed that they could not only handle our business, but also had the know-how and agility to make critical changes in record time. Having one single point of contact for all shipments and logistics needs gives us the confidence we need to focus on our core competencies.” Odyssey manages all aspects of the supply chain with a full suite of transportation services from ocean to over the road. Through its state-of-the-art integrated transportation management system and global network of service providers, Odyssey performs cargo planning, tendering, shipment visibility and configurable event management, freight audit and payment and management reporting. From the start of its relationship with Performance Fibers, Odyssey has acted quickly, transitioning all logistics for domestic shipping in just three weeks and then, transitioning to promptly handle the export shipments. Odyssey’s transportation management technology backbone, the Odyssey Global Logistics PlatformSM, will connect directly to Performance Fibers’ Enterprise Resource Planning system to provide a seamless, all-inclusive transition for logistics needs. With Odyssey, Performance Fibers will have complete visibility into all freight movement and logistics activities. The company plans to complete a transition to full data interchange by the end of the first quarter of 2006. “Transportation and logistics management are fundamental components of Performance Fibers’ business success,” said Robert Shellman, Chief Executive Officer for Odyssey. “We are very proud that Performance Fibers has put its trust in Odyssey.” About Performance Fibers Performance Fibers, an affiliate of Sun Capital Partners, is one of the world’s leading suppliers of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics. With manufacturing facilities in North America, Asia and Europe, its products are used in a wide range of consumer and industrial applications. Formed in December 2004, the business was formerly part of Honeywell International. For more information, visit www.performancefibers.com. Sun Capital Partners, Inc. is a leading private investment firm focused on identifying leveraged buyout and investment opportunities in market-leading companies that can benefit from the expertise and experience of Sun Capital’s in-house operating professionals. Sun Capital Partners has offices in Boca Raton, Los Angeles, New York, and London. With more than $2.5 billion of capital under management, affiliates of Sun Capital Partners have acquired more than 90 companies throughout the world with consolidated sales in excess of $20.0 billion. For more information about Sun Capital Partners, Inc., please visit www.SunCapPart.com. About Odyssey Logistics & Technology Odyssey Logistics & Technology provides global logistics management services to the chemical industry and other process manufacturers. Odyssey enables its customers to outsource any part of the management and transportation of their raw materials and finished goods, helping these companies save money through reduced transportation and infrastructure costs, measurable customer service and process improvements, and enhanced data quality and management. The Odyssey team of chemical engineers and logisticians brings unparalleled expertise to the logistics supply chain in all modes of transport. The Odyssey Global Logistics Platform is a transportation management infrastructure that serves as the technology backbone to its service offering. Odyssey International is a licensed export freight forwarder and wholly owned subsidiary of Odyssey Logistics & Technology, managing exports to more than 80 countries. The company is backed by investors Trident Capital, LogiSpring, Boston Millennia Partners, CMEA Ventures and RRE Ventures.
