Fritz Companies, Inc. Acquires Wall Shipping Co. Inc.; Prominent East Coast Forwarder Joins Global Integrated Logistics Leader.SAN FRANCISCO--(BUSINESS WIRE)--April 16, 1996--Fritz Companies, Inc. announces the acquisition of Wall Shipping Co. Inc., a preeminent East Coast freight forwarding company headquartered in Washington, D.C. Wall Shipping provides air freight air freight n → flete m por avión air freight n → fret aérien air freight air n → Luftfracht f forwarding and customs brokerage services. Wall maintains operations at Dulles International Airport and Baltimore. "A significant amount of Wall's business has been the 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 of foreign diplomatic pouches Noun 1. diplomatic pouch - a mail pouch that is sealed shut and that is used to carry communications between a legation and its home office mail pouch, mailbag - pouch used in the shipment of mail , and Wall has enjoyed a tremendous reputation in the industry. With the addition of Wall Shipping, Fritz Companies realizes a competitive advantage on the East Coast and thus the entire global network is strengthened," commented Lynn Fritz, President and Chief Executive Officer of Fritz Companies, Inc. "Wall Shipping's clients will benefit from the global capabilities and value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. that Fritz provides. Fritz has the systems, the facilities and the geographic depth that are vital to conducting business in today's marketplace," commented Wall Shipping's President, Frank Ward, who will maintain his position as President of Wall Shipping. Fritz Companies, Inc. is a leader in global transportation logistics and related information services See Information Systems. for importers and exporters worldwide. Fritz has over 300 wholly owned offices in every major international city around the globe. The Company's principal services include logistics management, 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 , 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 Belden Fisher, 415/904-8702 kelly.fisher@fritz.com |
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