MCGRAW-HILL ACQUIRES GEO. S. BUSH & CO., INC.
MCGRAW-HILL ACQUIRES GEO. S. BUSH & CO., INC. NEW YORK, Sept. 10 /PRNewswire/ -- McGraw-Hill, Inc. (NYSE: MHP)
today acquired Geo. S. Bush & Co., Inc., the leading independent customs broker and freight forwarder serving the Pacific Northwest, for an undisclosed cash sum.
Geo. S. Bush & Co., based in Seattle, becomes part of McGraw-Hill's Tower Group International, which includes the customs brokers and freight forwarders C.J. Tower (Buffalo); W.G. Carroll (Atlanta); W.N. Proctor (Boston), and Castelazo & Associates (Los Angeles). "The addition of Geo. S. Bush expands Tower's geographic coverage into the Pacific Northwest and allows us to offer importers and exporters comprehensive, single-source brokerage and freight forwarding services," said Joseph L. Dionne, chairman and chief executive officer of McGraw-Hill, Inc. "The acquisition is part of our strategy to broaden logistics- management and information services for importers and exporters who use the major trade gateways of the Pacific Northwest and Los Angeles." Geo. S. Bush, founded in 1892, offers a wide range of international trade-related services, including customs brokerage, freight forwarding, transportation, warehousing, and national distribution. The company has offices in Seattle and Los Angeles. Gene Cameron, president of Geo. S. Bush & Co., will continue to serve as president of Bush. "The Pacific Northwest offers excellent growth potential because of the importance of U.S.-Canada-Asia/Pacific trade. The ports of Seattle and Tacoma are among the fastest growing ports in the U.S.," said Mr. Dionne. "Together with Tower's existing Los Angeles operations, the Geo. S. Bush acquisition gives us a stronger base on the West Coast, and adds a strong link to the network we have been building for six years." McGraw-Hill, Inc., headquartered in New York City, is one of the world's leading publishing and information services companies. The company provides information in print, on line and over the air. Sales for 1991 were $1.9 billion. -0- 9/10/92 /CONTACT: Elizabeth L. Russo of McGraw-Hill, Inc., 212-512-3493/ (MHP) CO: McGraw-Hill, Inc.; Geo S. Bush & Co., Inc. ST: New York, Washington IN: PUB SU: TNM
TS -- NY042 -- 7966 09/10/92 11:20 EDT
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|Date:||Sep 10, 1992|
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