JAMAICA, NY--(Marketwire - 10/04/10) - Janel World Trade, Ltd. (OTC.BB:JLWT - News), a full-service global provider of integrated transportation logistics and environmental services, today announced the acquisition of the remaining assets of Ferrara International Logistics, Inc. of New Jersey. The purchase price is in the form of an earn-out over three years and includes a combination of stock and cash. In July 2008 the company acquired the customs brokerage book of business from Ferrara.James N. Jannello, Chief Executive Officer of Janel World Trade, Ltd. said, "We are very pleased with the completion of this strategic acquisition. Ferrara International Logistics and Janel have worked together for over two years and we know the value that Nick Ferrara and his people offer to their many customers. We look forward to increasing our company's revenue and enhancing our value-added services in trade lanes we know very well, in addition to supporting our common customers in similar industries. A key factor for our decision to acquire Ferrara was the expertise they bring in the import and export of food products, which significantly improves our core competency in this critically important market for our organization. Enhancing the value of this acquisition is the ability to sell Janel's value-added logistics solutions to additional customers." Jannello continued, "With over 150,000-sq. ft. of fully equipped warehouse space, plus a customs-bonded container freight station near major air, sea, rail, and trucking hubs, Ferrara will continue to bring additional capacity, convenience, custodial care, and cost control for our new and mutual clients. We see this as an opportunity to gain additional market share and offer additional value-added services to a broader market."Jannello concluded, "With the recent completion of our fiscal year ended September 30, 2010, we now know that Janel had a breaking record year in terms of revenue and we look forward to an even better year in fiscal 2011."Philip J. Dubato, Janel's Executive Vice President of Finance said, "Ferrara's book of business will add approximately $7.0 million to top-line revenue with an anticipated 36% gross profit margin to Janel. This acquisition is another step toward further growth and expansion of our core business and supports our corporate objective of becoming a rapidly growing, highly competitive and profitable global company."To be included in Janel's database for Corporate Press Release and industry updates, investors are invited to send their e-mail address to: IRInfo@janelgroup.net.About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics and environmental services, including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta), the Far East (Hong Kong, Shanghai, and Shenzhen) and Central America (El Salvador, Honduras and Guatemala) , the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission. The Company also provides a comprehensive menu of global environmental remediation services through its Special Projects Division, headquartered in Champaign, IL. This Division is currently working on environmental projects in Central America, Russia and China with an award grant from the U.S. Trade Development Agency.Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTC Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.netForward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.