Amertranz Worldwide Holding completes acquisition of Target AirFreight; Forms international subsidiary.LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--MAY 12, 1997-- Amertranz Worldwide Holding Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMTZ AMTZ Amtrak (railroad marking) ), a provider of freight services, announced today, that it has closed the previously announced acquisition of Target AirFreight air·freight n. 1. A system of transporting freight by air. 2. The amount charged for transporting freight by air. air , Inc., a Los Angeles-based freight forwarding company. The transaction was structured as a merger with the consideration being primarily shares of Amertranz common stock. Target AirFreight, founded in 1970, has 18 offices within the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with revenues of $27 million in 1996. It has an established international infrastructure which includes a subsidiary in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and share ownership in its operations in Singapore and Malaysia. Target is represented in other major markets throughout the world by exclusive agents. In making the announcement, Stuart Hettleman, president and chief executive officer of Amertranz, said, "Chris Coppersmith, president and chief executive officer of Target will join Amertranz as president of the company's newly formed Target International Services, Inc. subsidiary which will focus on the company's international activities." Coppersmith has also been elected to Amertranz' board of directors. Amertranz Worldwide Holding Corp. provides freight forwarding services through its wholly-owned subsidiaries, Amertranz Worldwide, Inc., Caribbean Air Services, Inc., Target International Services, Inc. and Consolidated Air Services, Inc. The company also provides total logistics services. CONTACT: Amertranz Worldwide Holding Corp. Stuart Hettleman, 516/326-9000 ext. 200 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Adam I. Friedman/Jeff Corbin, 212/682-6300 ext. 215/214 |
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