OL&T Achieves Double Digit Growth Amid 2009 Recession
DANBURY, Conn. (Jan.19, 2010) — Odyssey Logistics & Technology Corp. (OL&T), a leading global logistics and transportation service provider, announced today that revenues grew 18 percent in 2009 as the company moved cargo valued at more than $40 billion.
“Odyssey’s ability to grow during this economic downturn demonstrates the value of our customer service offering,” said Robert Shellman, president & CEO, OL&T. All of our clients strive to reduce costs while improving their efficiency in supporting worldwide clients, and Odyssey delivers significant improvements in global logistics that drive efficiency and eliminate unnecessary costs.
The Odyssey logistics network now spans beyond North America into Europe and Asia serving all modes of transport with coverage in more than 150,000 transportation lanes. OL&T deploys a proprietary technology platform for its clients and suppliers facilitating collaborative activities that drive costs from the network while improving product movement visibility and customer service.
“During difficult economic times, OL&T services have even greater value by helping clients become resourceful in transportation management,” said Cosmo Alberico, executive vice president and chief financial officer, OL&T. “With our vast network and global technology, Odyssey automates client logistics networks and drives efficiencies across all transport providers. The data our systems provide helps clients better understand both positive and negative influences on their businesses enabling better tactical and strategic planning. We anticipate a continuation of significant growth throughout 2010 and beyond,” he added.
Odyssey Logistics & Technology (OL&T) delivers 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 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 $40 billion in value between 185,000 origins and destinations and 220 ports worldwide servicing midsize to large global chemical and process industry clients.