Agent Network Purchases The Bekins Company; Buyout Strengthens Company's Commitment to Core Businesses.Business Editors HILLSIDE, Ill.--(BUSINESS WIRE)--Jan. 7, 2002 The Bekins Company, one of America's premier transportation and distribution services companies, today announced that their agent family has purchased the company from GeoLogistics Corporation. The Bekins Company, founded in 1891, includes Bekins Van Lines, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Bekins Worldwide Solutions, Inc. and operates through a network of 375 agents in more than 400 locations nationwide. The decision by Bekins' agents to purchase The Bekins Company was based on the realization that an agent-owned van line will present the greatest growth opportunities to not only the existing agency network but also to others in the moving and specialty logistics industries. Bekins intends to aggressively pursue core businesses, including corporate and private relocation services Relocation services or "employee relocation" includes a range of internal business processes that are engaged to transfer employees (and often their families) or entire departments of a business to a new work location. , high-value products transportation and logistics, tradeshow services, and home delivery. Financial details of the purchase were not released. "The agents now have a vested interest Vested Interest A financial or personal stake one entity has in an asset, security, or transaction. Notes: For example, if you have a mortgage, your bank has a vested interest on the sale of your house. See also: Right in maintaining and growing the customer base and business more than ever before. The interests and goals of the agents, drivers and Bekins management will be one and the same," stated George Gilbert, President EDC EDC See: Export Development Corp. , and Chairman of the Bekins Acquisition Group. "This acquisition underscores our agents' commitment to providing the finest services for our customers," stated Larry Marzullo, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of The Bekins Company. "The agent-owned model will allow our network to benefit financially and enhance their local regional and national presence, while providing our employees stability and the support of a network that is truly committed to Bekins' products and services." Bekins Van Lines, LLC (HHG HHG Household Goods HHG Holy Hand Grenade HHG Hitchhikers Guide to the Galaxy (Douglas Adams) HHG High Harmonic Generation (laser frequency conversion) HHG Hypergonadotropic Hypogonadism HHG H. H. ) operates through a vast network of agents in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. with a combined fleet of over 1600 operators. Bekins Van Lines is the seventh largest provider of household goods relocation services to corporations, individuals and the US government. The household goods network is comprised of agents located throughout the U.S. with hauling capacity provided by 150 independent owner operators and 1450 agent drivers. Bekins Worldwide Solutions (BWS BWS Board of Water Supply (Honolulu, Hawaii) BWS Beckwith-Wiedemann Syndrome BWS Black Wall Street (Hip-Hop record label) BWS Battered Woman Syndrome BWS Beer, Wine and Spirits ) utilizes its dedicated agency network of over 60 distribution centers with a combined Bekins fleet of over 2100 tractor/ trailers and straight truck units to provide a variety of specialty transportation services. BWS also provides comprehensive logistics services and home delivery through 75 plus agent distribution centers, which supply in excess of four million square feet of warehouse space for the transportation, distribution and warehousing of high-value products. "Under the new ownership structure, quality, integrity and innovative services will continue to distinguish Bekins in the transportation and logistics industry as it has for over a century," added Marzullo." The Bekins Company, Hillside, IL includes Bekins Worldwide Solutions, Inc. and Bekins Van Lines, LLC. Bekins Van Lines, founded in 1891, provides quality household goods relocation services for corporate accounts and private relocation customers. Bekins Worldwide Solutions is one of the largest North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. integrated networks that provides logistics services and solutions to business-to-business and business to consumer, manufacturers, distributors and retailers of electronics and other high-value products. Both Bekins Worldwide Solutions, Inc and Bekins Van Lines, LLC are ISO- iso- or is- pref. 1. Equal; uniform: isobar. 2. Isomeric: isopropyl. 3. 9002 registered. More information on Bekins can be found on the company website www.bekins.com Photo caption: (L. to R.) George Gilbert, CEO and President EDC, and Chairman of the Bekins Acquisition Group, and Larry Marzullo, CEO and President of The Bekins Company. Photo available at: www.bekins.com/images/gilbert-marzullo.jpg |
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