A.C.L.N. Ltd. Ships More Than 9,000 Cars On Pre-Paid Freight Basis During the First Two Months of 2000.Business Editors ANTWERP, Belgium--(BUSINESS WIRE)--March 13, 2000 A.C a.c., adv the abbreviation for ante cibum, a Latin phrase meaning “before eating.” .L.N. Ltd. (Nasdaq/NM:ACLNF) has continued to experience strong demand for its new services from ports in Northern Europe. Under an exclusive agreement with Hyundai Merchant Marine Hyundai Merchant Marine is a South Korean logistics company providing worldwide container shipping services. It was established in 1976 as Asia Merchant Marine. It became Hyundai Merchant Marine, a part of the Hyundai Group, in 1982. , A.C.L.N. is now shipping automobiles and light trucks from Bremerhaven, Hamburg Hamburg, city, Germany Hamburg (häm`b  rkh), officially Freie und Hansestadt Hamburg (Free and Hanseatic City of Hamburg), city (1994 pop. and Amsterdam. "For the first time in the company's history, we were able to fill a vessel capable of carrying 3,000 automobiles. We recently shipped 2,800 cars and 175 trucks from Northern European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. ports to destinations in 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. ," said Aldo Labiad, the company's president and chief executive officer. The company also announced that it was utilizing its surplus cash to facilitate the trade of unsold new cars between Europe and North Africa. The company recently bought 1,200 new cars and resold them in North and West Africa. "This is a natural extension of our business. Our relationships with African auto purchasers and our regular shipping service allow us to earn attractive margins in this new business," said Labiad. The company is in the process of transitioning itself from a pure freight consolidator to a shipping and trading company focused on facilitating automobile trade and transport between developed and developing nations. A.C.L.N. is a marine logistics company that arranges for the shipment of personal automobiles and light trucks from five ports in Northern Europe sold by independent auto dealers to purchasers who live in North and West Africa and the Middle East. The company also provides for related customs-clearance and stevedoring services. 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 or performance of the company to differ materially from those described herein. |
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