A.C.L.N. Limited Expects Record Third Quarter Revenues and Net Income.Business Editors LIMASSOL, Cyprus--(BUSINESS WIRE)--Oct. 2, 2000 A.C.L.N. Limited (Nasdaq:ACLNF), today announced that the recent blockade blockade, use of naval forces to cut off maritime communication and supply. Blockades may be used to prevent shipping from reaching enemy ports, or they may serve purposes of coercion. The term is rarely applied to land sieges. by truckers protesting rising fuel costs of the Port of Antwerp The port of Antwerp is a capesize port in the heart of Europe. Antwerp is situated at the estuarium of the Scheldt. In this estuary ships of more than 100 000 tons sail 80 km inland. and increases in the price of crude oil have had negligible  This article or section is written like a personal reflection or and may require .Please [ improve this article] by rewriting this article or section in an . effects on its business. Because the company had a large backlog of personal vehicles already residing at the port of Antwerp and ready for shipment, the short-lived blockade of the port did not affect the company's shipment schedules. The company shipped a record number of personal vehicles during the third quarter. In addition, vehicles purchased for resale are expected to have a positive impact on third quarter results as a majority of the sales were of higher priced, higher margin vehicles. To handle increased volumes, the company has recently hired three professionals at the Antwerp branch office: a logistics director, an administration manager, and a booking coordinator. The company's executive and administrative staff now manages the activities of approximately 350 contract laborers principally in Europe, North Africa, and West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . "We have recently added experienced industry professionals to help manage the growing demand for our services. We have outsourced labor since we founded the company in 1978. This model keeps fixed costs fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). low while allowing for rapid expansion of the company," commented Joseph Bisschops, Chairman of the Board. "Investors have been concerned about the potential negative impact of both the port blockade and the recent spike in crude prices. We have not experienced any decline in our business as a result of these factors. Many of the nations we service are oil exporting countries. It has been our experience that increases in the price of crude have stimulated demand not only for personal vehicles but also for high priced / high margin luxury vehicles in these regions. Demand for our services has never been greater," commented Aldo Labiad, President and C.E.O. of A.C.L.N. Limited. A.C.L.N. Limited (www.aclnltd.com) is a marine logistics, shipping, and trading company that arranges for the resale and shipment of personal automobiles and light trucks from four ports in Northern Europe and three ports in the United States This is a list of ports of the United States, ranked by tonnage. See the articles on individual ports for more information, including geography, ownership, and link to official web site. Cargo volume at U.S. ports, 2004, short tons. to purchasers who live in West Africa, North Africa, and the Middle East. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are based on the current expectations of management and are subject to a number of risk factors and uncertainties that could cause actual results for performance of the company to differ materially from those described herein. |
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