Consolidated Freightways Forms Joint Venture With Mexico s Alfri-Loder Group; Alliance Expands CF s Service in Mexico.SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , Texas--(BUSINESS WIRE)--May 11, 1998- As part of a plan to deliver total transportation and logistics solutions for companies doing business in Mexico, Consolidated Freightways Consolidated Freight was the 3rd biggest trucking company in the US. In the 1930s they started their own truck manufacturing operation, Freightliner, now part of DaimlerChrysler. (CF) (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 :CFWY CFWY Consolidated Freightways ) has formed a joint venture with the Alfri-Loder Group. Headquartered in Monterrey, Mexico, CF Alfri-Loder is scheduled to begin operations July 1998. Consolidated Freightways provides LTL LTL - Linear Temporal Logic transportation, expedited freight handling and logistics management Logistics Management is that part of Supply Chain Management that plans, implements, and controls the efficient, effective, forward, and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet services for companies shipping freight within 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. and around the globe. The joint venture with Alfri-Loder strengthens CF s position in Mexico, allowing the transportation company to expand services in the burgeoning Mexican market. The Alfri-Loder Group has more than 65 years of successful experience in Mexico. The Group, owned by A. Federico and Ricardo E. Longoria Derby, has 1,500 employees and is comprised of numerous business interests, including automotive, food, butane butane (by  `tān), C4H10, gaseous alkane, a hydrocarbon that is obtained from natural gas or by refining petroleum. gas, transportation and real estate divisions. Last year, Alfri-Loder posted more than $115 million in sales. Consolidated Freightways sees tremendous opportunity in Mexico, says W. Roger Curry, CF president and 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. . The potential for growth in the Mexican market has exploded since the passage of NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's . CF s infrastructure in Mexico is stronger through Alfri-Loder, and the joint venture allows us to better support rapid expansion of our services in this important trade region. According to independent research, 4 billion pounds of LTL freight moved across the U.S.-Mexico border in 1996 representing some 2 million shipments. CF s alliance with the Alfri-Loder Group helps us build a leadership position in the Mexican LTL market, says Brian Hickert, manager of CF s Mexico/Border division. Alfri-Loder s knowledge and history of success in the Mexican market -- combined with CF s LTL expertise -- enables us to lay a foundation for the most reliable, flexible and competitive service across the border and within Mexico. Although we have been in trucking for more than 40 years, we have never pursued the LTL business, say A. Federico and Ricardo E. Longoria Derby. We feel very confident that this new business will achieve great success based on CF s experience, technology and position as one of the largest and most successful LTL carriers in the U.S. and Canada. Consolidated Freightways spent months evaluating possible joint venture partners in Mexico. CF is interested in the long-term value of a relationship, says Curry. A company like the Alfri-Loder Group offers an ideal combination of experience, knowledge and financial stability. Recognizing the increased demand for flexible transportation services across the border, Consolidated Freightways in March announced the formation of a new Mexico/Border division. With seven terminals in operation and four additional terminals opening in the coming months, the division places heavy emphasis on multiple border gateways, state-of-the-art equipment, technology and support systems. Doing business in Mexico requires an understanding of the nuances of the market, says Hickert. Familiarity with Mexico s economic cycles, communications infrastructure, and fiscal and legal environments can directly impact a company s success. Consolidated Freightways is a transportation company primarily providing less-than-truckload (LTL) and logistics services throughout the United States, Canada and Mexico using its system of 350 terminals and 22,000 employees. The company also provides international freight services between the U.S. and more than 70 countries. CONTACT: Consolidated Freightways Mike Brown, 650/326-1700 or Communications West Shannon Matus, 415/863-7220 E-mail: smatus@comwest.com |
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