In The News
Express-1 Expedited Solutions announces new logistics venture
BUCHANAN, Mich. â€“ Express-1 Expedited Solutions, Inc. (AMEX:XPO) has announced the creation of a new non-asset based brokerage segment, Bounce Logistics, Inc.
Express-1 Expedited Solutions, Inc, one of the leading ground expedited transportation companies in the U.S., has formed a new subsidiary to complement its portfolio of transportation services.
Bounce Logistics, Inc. will be based in South Bend, Indiana and focus upon dedicated fleet services, full-truckload (semi) offerings, supply chain consulting and â€œcustom warehousing solutionsâ€. In keeping with Express-1 Expedited Solutions, business model, Bounce Logistics. Inc. will be focused on premium transportation solutions for its customers.
Bounce will be lead by a team of industry veterans, with Tim Hindes as President of the operations and Kurt LaDow as Vice President of Operations. Hindes and LaDow have a combined thirty-five year history in the transportation industry, with Hindes having spent approximately 10 years managing start-ups and turnarounds within this sector.
Express-1 Expedited Solutions, Inc. CEO Mike Welch stated, â€œWeâ€™re very excited to have Tim and Kurt join our organization in this capacity. Theyâ€™re proven industry professionals and we couldnâ€™t have asked for a better management team to lead this new endeavor. With the creation of Bounce, we are positioning the Company to further add value to our core customer base by covering some of the additional high-priority needs of our customers, beyond the traditional expedited model. We expect Bounce to generate between five million and six million dollars of additional revenue in 2008 and be profitable within the first year of operations.â€
Hindes stated â€œ I am excited to be a part of Express-1; I have always been impressed with their team and organization. I think Bounce Logistics will quickly become a leading boutique Logistics provider. Our bread and butter will be providing solutions for complicated logistics needs that require a high degree of talent and customer service.â€
Commenting further Welch added, â€œOver the past year, weâ€™ve been telling our shareholders our focus was going to branch beyond the organic growth model within our two business segments, Express-1 and Express-1 Dedicated located in Evansville, Indiana. Weâ€™ve entrusted the continued success of Express-1, Inc. to the capable hands of Jeff Curry, its President."
"While we remain committed to and engaged in the success of our business segments, our Chief Financial Officer and I have shifted some of our focus to business development and acquisitions. Bounce is the first result of this new structure and weâ€™re proud to have attracted such a solid team as Tim and Kurt to develop this operation. Weâ€™re excited about additional opportunities we see on the horizon and are committed to continuing the momentum weâ€™ve established as a team at Express-1 Expedited Solutions, Inc.â€
About Express-1 Expedited Solutions, Inc.
Offering same-day, time â€“ sensitive, and dedicated transportation to more than 1500 customers, Express-1 is one of the largest ground expedite companies in the country.
The companyâ€™s premium transportation service is provided through its 24/7 operations center, by experienced inside sales staff using the latest in vehicle tracking and dispatch software. Express-1 services customers in the 48 states and portions of Canada and Mexico.
Express-1 utilizes an asset light operating model working with independent contractors that live throughout the Country. Express-1 Expedited Solutions, Inc. is publicly traded on the American Stock Exchange under the symbol XPO. For more information about the Company, visit www.express-1.com.