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C.H. Robinson Acquires Third Party Transportation Company.


Business Editors

MINNEAPOLIS--(BUSINESS WIRE)--Feb. 10, 2004

C.H. Robinson Worldwide, Inc. ("C.H. Robinson") (Nasdaq:CHRW CHRW C.H. Robinson Worldwide (stock symbol) ) announced today that it has acquired Camway Transportation Corporation ("Camway"), a third party logistics company that provides domestic truckload and intermodal transportation brokerage services. Camway is based in Toledo, Ohio
This article is about the city in Ohio. For Toledo, Spain, see that article. For other uses, see Toledo (disambiguation).
Toledo is a city in the U.S. state of Ohio and the county seat of Lucas CountyGR6.
.

Like C.H. Robinson, Camway is non-asset based. A strong regional third party provider, Camway provides transportation and logistics services throughout 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.  to approximately 200 customers. Camway has 12 employees and had gross revenues of approximately $17 million in 2003. C.H. Robinson purchased all of the stock of Camway; terms of the acquisition were not disclosed.

"Camway offers Robinson another solid growth addition to the branch network," said Scott Satterlee, vice president of C.H. Robinson. "They are a very well-run company with strong customer and carrier relationships. Their people are a very sharp, professional team who work within a service-oriented structure similar to ours. They will fit well in the Robinson culture. With their background and expertise in truck and intermodal transportation, coupled with the opportunities they see adding Robinson's LTL LTL - Linear Temporal Logic  and international services for their customers, we expect this new office to help us increase our already strong presence in that part of the country and to blossom into a well-rounded Robinson office."

Camway was founded in 1988 by Mark and Cynthia Martin. Jeff McNally, Camway's operations manager See datacenter manager.  who joined them in 1989, will remain with the company as the manager of the new C.H. Robinson Toledo West branch office.

Founded in 1905, C.H. Robinson Worldwide, Inc., has gross revenue of $3.6 billion and is a global provider of multimodal Two or more modes of operation. The term is used to refer to a myriad of functions and conditions in which two or more different methods, processes or forms of delivery are used. On the Web, it refers to asking for something one way and receiving the answer another; for example requesting  transportation services, logistics solutions and fresh produce sourcing, operating through a network of 159 offices in North America, South America, Europe and Asia. In North America, C.H. Robinson is one of the largest third-party logistics companies and maintains the single largest network of motor carrier capacity through contracts with more than 25,000 motor carriers. The company is one of the largest third-party providers of intermodal services in the United States. C.H. Robinson Worldwide, Inc., headquarters is in Eden Prairie, Minnesota The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter.
It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view.
. For more information about C.H. Robinson Worldwide, visit www.chrobinson.com.

Except for the historical information contained herein, the matters set forth in this release are forward-looking statements that represent our expectations, beliefs, intentions or strategies concerning future events. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience or our present expectations, including, but not limited to such factors as market demand and pressures on the pricing for our services; competition and growth rates Growth Rates

The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures.

Notes:
Remember, historically high growth rates don't always mean a high rate of growth looking into the future.
 within the third-party logistics industry; freight levels and availability of truck capacity or alternative means of transporting freight, and changes in relationships with existing truck, rail, ocean and air carriers; changes in our customer base due to possible consolidation among our customers; our ability to integrate the operations of acquired companies with our historic operations successfully; risks associated with litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

When a person begins a civil lawsuit, the person enters into a process called litigation.
 and insurance coverage; risks associated with operations outside of the U.S.; changing economic conditions such as general economic slowdown, decreased consumer confidence, fuel shortages and the impact of war on the economy; and other risk and uncertainties detailed under "Cautionary Statement" in Exhibit 99.1 to C.H. Robinson's Annual Report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 filed on March 17, 2003.
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Publication:Business Wire
Geographic Code:1USA
Date:Feb 10, 2004
Words:567
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