Chemtura Signs New Three-Year Contract with OL&T
DANBURY, Conn. (June 6, 2010) — Odyssey Logistics & Technology Corp. (OL&T), announced today that it has entered into a new long-term contract with Chemtura Corp., a global specialty chemicals company with leading positions in diversified markets, based in Philadelphia. OL&T is a global logistics and transportation service provider for chemical and process industries.
For Chemtura, OL&T manages transportation and logistics activities within North America in the following modes: package truck, bulk truck, rail, and air. OL&T also manages negotiations of all ocean export shipments out of North America. OL&T currently has a similar contract to provide these services to Chemtura affiliates in Europe, Middle East and Africa.
Chemtura Corp. was formed in 2005 with the merger of Crompton Corp. and Great Lakes Chemical Corp. Chemtura builds the chemistry that makes other products more durable, safer, cleaner and more efficient, in the building and construction, electronics, consumer, industrial and transportation industries.
During its initial engagement with OL&T, Chemtura became integrated with the Odyssey Global Logistics PlatformSM , a patented technology infrastructure that provides a single, integrated transportation management system. Initially, this enabled Chemtura to combine three separate ERP systems into one single portal provided by OL&T. In January, 2010 Chemtura transitioned to company-wide single ERP system, and over the past three years, the company has achieved improved logistics performance while reducing costs.
“It was a relatively easy decision for us to continue to work with Odyssey Logistics & Technology. OL&T’s technology platform is the leader in our industry, and OL&T customized the technology to focus on our goals,” said Nelson Baltazar, vice president Global Logistics, Chemtura Corp. “At Chemtura, our focus is on excellence in everything we do, and OL&T helps us achieve that in a very important part of our operations.”
“Our three-year partnership with Chemtura has been very successful for both companies. We are grateful that they have decided to continue working with Odyssey Logistics & Technology, and we are confident that they will continue to see benefits in all aspects of our business with them over the next three years,” said OL&T President and Chief Executive Officer Bob Shellman.
Chemtura Corp. (Pink Sheets: CEMJQ), with 2008 sales of $3.8 billion, is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products. Learn more at www.chemtura.com.
Odyssey Logistics & Technology Corp. (OL&T) and its subsidiaries deliver a comprehensive portfolio of managed logistics and third-party services to the global chemical and process manufacturing industries. The Odyssey Global Logistics PlatformSM is OL&T’s technology infrastructure, and features a patented proprietary net-native transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world.
With more than 30 percent average annual revenue growth for the last five years, OL&T moves products with more than $42 billion in value between 185,000 origins and destinations and 220 ports worldwide, servicing midsize to large global chemical and process industry clients.