OL&T Announces Strong Double Digit Revenue Growth for 2008; Positive Projections Slated for 2009
DANBURY, Conn. (Jan. 26, 2009) — In a state-of-the-business communication, Vice Admiral Edward M. Straw, chairman of the board for Odyssey Logistics & Technology Corporation (OL&T), a global logistics and transportation service provider for chemical and process industries, announced that the company experienced revenue growth in excess of 60% in its Managed Logistics Services sector for the full year 2008.
In addition to significant North American business growth, the company is rapidly expanding services in Europe, Africa and parts of the Middle East. European headquarters are located in Antwerp, Belgium.
Straw stated that 2009 would be a year of challenges. “The global financial crisis will have an impact on business but we expect continued growth globally during the recession. Our business model keeps gaining traction in this environment.”
During difficult economic times OL&T delivers value by helping customers reduce costs and become more productive. “With our very large transportation network and technology deployment, we can automate the logistics activities and drive efficiencies resulting in significant cost savings for our customers. In addition to savings, we are able to provide customers with detailed reports and pertinent data they need to accurately forecast and make informed choices within their supply chain as it relates to transportation and inventory,” commented OL&T Chief Executive Officer Robert Shellman.
More and more domestic clients with opportunities overseas are developing strategic plans with OL&T to handle the wide range of logistics activities associated with making international shipments. These developments bode well for OL&T’s success in meeting the 2009 growth forecast.