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TMCNet:  Odyssey Logistics & Technology Posts 50 Percent Growth

[February 07, 2013]

Odyssey Logistics & Technology Posts 50 Percent Growth

DANBURY, Conn. --(Business Wire)--

Benefiting from solid domestic and international organic growth, as well as successfully integrating an intermodal acquisition, global lead logistics provider Odyssey Logistics & Technology Corporation (OL&T) announced today that earnings grew more than 50 percent in 2012. The company also continued to add new employees across all its businesses.

"We are continuing our expansion in both the domestic and international market to support our global customers," said OL&T President and Chief Executive Officer Bob Shellman. "In addition, OL&T has a special focus on domestic intermodal services to drive efficiency and enable a greener footprint."

"As a result of continued investment in our global technology platform in 2012, OL&T has delivered transportation management solutions which have produced supply chain efficiencies and lower costs through improved actionable data," added Cosmo Alberico, OL&T executive vice president and chief financial officer. "This directly translates into a greater competitive advantage for our customers."

Recent Acquisition

OL&T is continuing its strategy of combining organic growth with strateic acquisitions that fit into the portfolio to spur growth on the top and bottom lines. Discussions are continuing with both domestic and offshore companies.

During 2012, OL&T completed the acquisition of Palos Heights, Ill.-based Interdom Partners, one the largest railway intermodal companies in the U.S. Interdom Partners serves the domestic and international shipping community, and this business unit manages a significant railroad network that produces efficiency and a greener carbon footprint.

The OL&T logistics network spans throughout North America into Europe and Asia serving all modes of transport with coverage in more than 200,000 transportation lanes and 250 ports worldwide. OL&T deploys a proprietary technology platform for its clients and suppliers, facilitating collaborative activities that drive significant cost savings from the network while improving visibility of cargo movements and customer service.

Odyssey Global Logistics PlatformSM is a patented technology infrastructure that supports all modes of transport and global shipping scenarios in a secure, hosted environment. The platform provides comprehensive planning, execution, visibility, event management and analytics functionality over a scalable data management and integration base. The technology also provides a holistic view of a client partner's multiple enterprise resource planning (ERP) systems for greater interactivity, control and visibility.

About OL&T

Odyssey Logistics & Technology (OL&T) is a global lead logistics provider that empowers global logistics professionals with technology, processes and information for better decision making. OL&T leverages four main components to drive cost savings for clients and generate better service from transportation suppliers: supply chain network evaluation and design; a patented, Web-based information technology infrastructure; proven operational processes; and volume aggregation to provide economies of scale for greater efficiencies. In addition to fully managed logistics services, OL&T also offers individual 3PL services that include truck brokerage, intermodal transportation, customs brokerage, freight forwarding, facilities management, sample and small order distribution, and more.

The Odyssey Global Logistics Platform SM features a transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world. For more information, please visit www.odysseylogistics.com


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