Well, news on completion of acquisition for LMRI. This is just the kind of thing that we need to keep these shorts to high heaven. News couldn't come at a better time!!!! Good morning Patsy.
LOUISVILLE, Ky.--(BUSINESS WIRE)--March 30, 2001--Logistics
Management Resources Inc. (OTC:BB:LMRI), a holding company focused on
acquiring and managing non-asset based transportation logistics and
human resource companies, today announced that it has completed the
previously announced acquisition of Trans-Logistics, Inc., based in
Tampa, Florida.
The transaction is valued at approximately one million dollars
including cash-stock and earn-out contracts.
Trans-logistics is a "Third Party Logistics" provider of
transportation services including load matching, agency management and
consolidation, with company and agent operations in Florida, Georgia
and Kentucky. The operations are expected to add approximately $10
million to Logistics Management Resources annual revenue base while
immediately being a creative to earnings.
"It is very exciting to announce the completion of this
acquisition as the first since the reorganization of our company,"
commented Dan L. Pixler, President and Chief Executive Officer of
Logistics Management Resources. "Trans-Logistics is well managed,
profitable, and provides the base to build our transportation
division. The acquisition will undoubtedly bring substantial growth
opportunities."
Statements in this news release that relate to future plans,
financial results or projections, events or performance are forward
looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. While these statements are made to convey to
the public the Company's progress, business opportunities and growth
prospects, readers are cautioned that such forward-looking statements
represent the management's opinion. Where management believes such
representations to be true and accurate based on information available
to the Company at this time, actual results may differ materially from
those described.
In addition to the matters described in this news release, risk
factors listed from time to time in the Company's SEC reports and
filings, including, but not limited to, its report on Form 10-QSB for
the quarter ended Sept. 30, 2000, and its report on Form 10-KSB for
the year ended Dec. 31, 1999, may affect the results achieved by the
Company.
--30--jtp/ny*
CONTACT: Logistics Management Resources
Daniel Pixler, 502/339-4000
KEYWORD: KENTUCKY
INDUSTRY KEYWORD: HUMAN RESOURCES TRANSPORTATION MERGERS/ACQ
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