Fritz Companies, Inc. Acquires Stanzione/Stair Cargo Companies; Venezuela, Chile, Columbia, Panama, Costa Rica and Peru offices join Fritz global network.SAN FRANCISCO--(BUSINESS WIRE)--Sept. 28, 1995--Fritz Companies, Inc. announced the acquisition of Stanzione/Stair Cargo's operating subgroup of companies located in Venezuela, Chile, Colombia, Costa Rica Costa Rica (kŏs`tə rē`kə), officially Republic of Costa Rica, republic (2005 est. pop. 4,016,000), 19,575 sq mi (50,700 sq km), Central America. , Panama and Peru. Founded over 20 years ago, these companies provide air import and export services, ocean import, consolidation, inland trucking and bonded warehousing services. Dr. Franco Stanzione Amatore, founder of Stanzione/Stair said, "I am very satisfied with the completion of the negotiations between Lynn Fritz and myself. For the last 10 years, Stair has been a primary logistics supplier to all sectors of Venezuela's petrochemical industry, and we are pleased that Fritz will provide unparalleled and uninterrupted service to this niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. . More importantly, all Stair customers throughout South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. benefit from the seamless and exceptional resources of a global leader in integrated logistics." Lynn Fritz, President and Chief Executive Officer of Fritz Companies, Inc., commented on the acquisition, "South America remains one of the fastest growing world markets of the 1990s, and we are investing in the continuance of such growth to better serve our client constituents. With the Stair/Stanzione acquisition, Fritz continues its ardent commitment to be the preeminent global integrated logistics service provider." Fritz Companies, Inc. is a leader in global transportation logistics and related information services See Information Systems. for importers and exporters worldwide. The Company's principal services include 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 , customs brokerage, international air and ocean freight consolidation and forwarding, warehousing and distribution, and other value-added services for the global movement of goods and logistics information. Fritz Companies, Inc. is headquartered at 706 Mission Street, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA 94103, telephone 415/904-8360 (www.fritz.com/). The Company's shares are traded on the 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 National Exchange under FRTZ. CONTACT: Fritz Companies, Inc. Kelly Belden Fisher, 415/904-8702 kelly.fisher@fritz.com |
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