USCO Logistics Completes Sale to Kuehne & Nagel; Combination creates one of top 10 largest global logistics organizations.Business Editors HAMDEN Hamden, town (1990 pop. 52,434), New Haven co., S Conn.; inc. 1786. The town, settled c.1638, was named for John Hampden, the English Puritan. A residential and manufacturing suburb of New Haven, of which it was once a part, Hamden makes machinery, electrical and , Conn.--(BUSINESS WIRE)--July 23, 2001 USCO USCO Unsafe School Choice Option Logistics announced today the completion of its $300 million acquisition by Kuehne & Nagel Nagel can refer to: People
USCO Logistics provides an integrated suite of logistics services including transportation and warehouse management. USCO is one of the largest warehouse-based logistics service providers in 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. with more than 15 million square feet of shared and dedicated space 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. , Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. and Canada. The company, which focuses on the pharmaceutical, retail and high-tech industries, has achieved compounded annual revenue growth of more than 30 percent during the last three years. USCO will operate as an integrated service unit within the Kuehne & Nagel Group. The combination will allow USCO to offer its customers an integrated portfolio of global services, including access to Kuehne & Nagel's global infrastructure for moving freight, by any mode of transport, throughout the world. Freight forwarding, customs brokerage and logistics customers of Kuehne & Nagel will benefit from USCO's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. service offerings. Kuehne & Nagel, with its headquarters in Schindellegi, Switzerland, has dramatically expanded its global integrated contract logistics capabilities from its strong European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. base. Prior to the USCO acquisition, it entered into an alliance with SembCorp Logistics SembCorp Logistics Limited (also known as SembLog) SGX: U81 is a logistics company previously linked to SembCorp Industries based in Singapore. It was acquired by Australian transport giant, Toll Holdings in May 2006. Ltd., Singapore, extending its logistics operations into the Asia-Pacific region. (SembCorp holds a 20 percent investment in the Kuehne & Nagel. At the same time, Kuehne & Nagel holds a 5 percent investment in SembCorp with the option to acquire an additional 15 percent.) The USCO acquisition will provide Kuehne & Nagel with access to the North American market. Klaus-Michael Kuehne, Executive Chairman of Kuehne & Nagel International AG, said, "What's unique about Kuehne & Nagel's global network is its tangible infrastructure and proven experience in executing quality solutions on a global basis. "There is an ideal fit between Kuehne & Nagel and USCO," he said. "Kuehne & Nagel's heritage stems from freight forwarding; USCO's from warehousing and distribution. Kuehne & Nagel's strong 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 presence in Europe and Asia matches well with USCO's complementary position as a leading North American logistics services provider. "USCO's strong, highly motivated mo·ti·vate tr.v. mo·ti·vat·ed, mo·ti·vat·ing, mo·ti·vates To provide with an incentive; move to action; impel. mo management team will be an important asset as we build future capabilities. We are already looking forward to incorporating a number of USCO's innovative concepts within our logistics units," Mr. Kuehne said. Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs R. Holmes, Chairman of USCO Logistics, said, "We are excited about the powerful combination created by Kuehne & Nagel and USCO. During the past 35 years, we have grown to be an industry leader and we look forward to accomplishing even more for our customers through access to Kuehne & Nagel's network and systems and its global supply-chain management vision. "We intend to maintain and strengthen USCO's unique customer-centric `House in Order' culture," he said. "Our management team will remain in place, assuring stability and continuity of service to our customers." Mr. Holmes said, "Importantly, like the Kuehne & Nagel Group, USCO approaches global supply-chain management from the perspective of process experts. Our team understands real-world logistics challenges and has designed, implemented and managed customized solutions that meet our customers' unique needs. "Together, we look forward to strengthening Kuehne & Nagel's position as a leading global logistics provider," he said. "We believe that this combination will position us well to develop and deliver to customers the solutions that will provide them with a competitive advantage wherever they need it." About Kuehne & Nagel With more than 14,000 employees at 530 locations in 90 countries, the Kuehne & Nagel Group is one of the world's leading logistics companies. Its strong market position lies in the ocean, airfreight air·freight n. 1. A system of transporting freight by air. 2. The amount charged for transporting freight by air. air and contract logistics businesses, with a clear focus on providing IT-based supply-chain management services. About USCO Logistics With more than 3,000 employees at 70 locations across North America, USCO Logistics is a leading provider of integrated logistics services including transportation, warehouse and information management. It is one of the largest warehouse-based logistics service providers in North America with more than 15 million square feet of shared and dedicated space throughout the United States, Mexico and Canada. |
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