Tag: North America

Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited

Posted by | Sep 17, 2007 | |

Target Logistics, Inc., a domestic and international freight forwarder and logistics provider, today announced that it has signed a definitive merger agreement to be acquired by Mainfreight Limited in an all-cash transaction valued at approximately USD 53.7 million.

Under terms of the agreement, holders of Target Logistics’ common stock will receive USD 2.50 in cash per share of common stock, representing a 36.6% increase over Target Logistics’ closing price on September 17, 2007, a 38.0% premium over the company’s one-month average closing price and a 28.8% premium over the company’s three-month average closing price.

Mainfreight is a global supply chain logistics provider with approximately 3,000 team members based in operations in New Zealand, Australia, Asia and the USA. The Company was founded in 1978 and listed on the New Zealand Stock Exchange (NZX) in 1996, where it is now ranked as one of the NZX top 20 companies. Revenues for the 2007 financial year were NZUSD 968 million, and its strong balance sheet sees Mainfreight well placed for its stated goal of international expansion. (See www.Mainfreight.com for additional information).

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Geodis partnership extends Xpedx's reach

Posted by | Sep 17, 2007 | |

A local distributor has formed an alliance with a French company that will expand both companies’ global footprint.

Xpedx announced Monday that it has signed a strategic alliance with Geodis, a Paris-based third-party logistics company. The two companies will offer a full range of logistics services, including air, sea and multi-modal transport, asset and inventory management, and other supply chain services.

“We will provide Geodis comprehensive geographical coverage and extended logistics service for their customers throughout the U.S.,” said Dan Watkoske, vice president of sales for Loveland-based Xpedx. “They, in turn, will provide the same for our customers with operations outside the U.S.”

Geodis, which has subsidiaries in Europe, Asia, Africa and Mexico, recently acquired TNT Freight Management, part of an Amsterdam firm with global operations, including in the United States.

Xpedx is a unit of International Paper headquartered in Memphis, Tenn.

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American Red Cross and FedEx announce collaboration to help small businesses

Posted by | Sep 14, 2007 | |

A national survey of small businesses conducted by the American Red Cross and FedEx Corp. found that while 94 percent of small business owners believe there is a potential for a disaster to seriously disrupt their business within the next two years, only 43 percent feel prepared for a one week disruption of their business, and 22 percent feel prepared for a one month disruption. Importantly, many businesses do want to become better prepared, with almost a quarter of respondents indicating they are planning on taking steps to prepare their businesses for disaster.

Based on these findings, the American Red Cross and FedEx Corp. will create tools to help small businesses get prepared.

FedEx and the Red Cross have been working together to examine small business disaster preparedness because of the important role small businesses play in the national and global economy, as well as the safety and strength of the communities in which they are located.

Having responded to more than 75,000 disasters nationwide last year, we have seen first hand how businesses with trained employees, protected resources and plans for operational continuity can decrease the physical and financial impact of a disaster, and lessen the burden on first responders, said Darlene Sparks Washington, Director of Preparedness for the American Red Cross. All businesses should have a disaster plan, but for small businesses, being prepared can make a difference in being able to stay in business after a disaster.

The survey data is especially relevant considering that one in four businesses do not reopen after a major disaster such as a flood, tornado or earthquake, according to the Institute for Business and Home Safety, and considering that small businesses account for more than 99 percent of businesses in the United States alone.

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MoneyGram Will Expand Range of Payment Services With Acquisition of PropertyBridge

Posted by | Sep 13, 2007 | |

MoneyGram International, Inc. today announced it has reached an agreement to acquire PropertyBridge, Inc., a leading provider of electronic payment processing services for the real estate management industry. MoneyGram expects to complete the acquisition by the end of the year.

“PropertyBridge provides best-in-class rental payment solutions to some of the largest property management companies in the U.S.,” said Phil Milne, president and chief executive officer of MoneyGram. “It has developed a great system and a wonderful team to provide high value-added payment services to the multi-family housing industry. PropertyBridge is also a terrific strategic fit for us as we continue to build out and grow our bill payment business. We are very pleased that the management team and employees of PropertyBridge will remain with the company.”

PropertyBridge, which started in 2003 in Oakland, Calif., offers a complete solution to the resident payment cycle, including the ability to electronically accept deposits and rent payments, plus collect outstanding debt. Residents can pay rent online, by phone or in person and set up recurring payments.

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Velocity Express Expands National Network with Franchising Strategy

Posted by | Sep 12, 2007 | |

Velocity Express Corporation, the nation’s largest provider of time definite regional delivery solutions, unveiled plans to expand their already extensive national delivery network though franchising.

Chairman and CEO Vince Wasik announced the formation of the company’s new subsidiary Velocity Systems Franchising Corporation (VSFC). The new company will be responsible for developing franchise agreements with local and regional delivery companies in markets not currently served by Velocity Express.

“Through our franchise model, Velocity Express can offer our national customers increased geographic coverage and enhanced service offerings by partnering with the best, local and regional delivery companies in a specific market. In turn, by becoming a Velocity franchise operation, our franchisees will have access to opportunities created by our national account sales strategy, which they may not have had access too. This is truly a “home-run” for both of us.” Wasik stated.

Ted Stone the company’s CFO added, “Franchising will allow us to improve our gross margins by dramatically reducing the capital expenditures required to open new markets, while allowing us to expand our capabilities. As we migrate from our current agency relationships to franchise agreements we will also strengthen our financial performance.”

Wasik then announced that Drew Kronick, the company’s Executive Vice President of Business Development and Supply Chain Solutions, will serve as the President of VSFC. “I am very excited about where we are headed with our franchising initiative. This is a huge competitive advantage for us in the marketplace and will enhance our already strong value proposition to our customers. Unlike 3rd Party Logistics relationships, we will have a much closer bond with our franchisees, who will be certified in the procedures required by Velocity Express’s customers.” Kronick concluded.

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