Velocity Express renews USD 13m financial sector contract
US delivery firm Velocity Express has announced that it recently signed a multi-year contract renewal, representing more than USD 13 million in revenue per annum, with one of the world’s largest financial institutions. The name of the customer was not disclosed.
As part of the agreement, Velocity Express will continue to manage the primary transportation needs for this customer in key business regions across the country, including markets in the south, northeast and west coast states.
Velocity Express said that the contract extension helps to reaffirm its position as the leading provider of time-definite regional delivery solutions to the financial services sector. The company provides daily service to and from thousands of bank branches and proof centers across the United States.
“This significant contract renewal demonstrates the value we bring to our customers every day,” said Drew Kronick, Executive Vice President of Velocity Express. “We are excited with this opportunity to continue to serve this important customer, and further to expand our service offering to the financial services industry.”
The contract renewal extends the agreement to September 30, 2008, subject to the standard terms of trade.
