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Odyssey Logistics & Technology Posts Double Digit Revenue and Earnings Growth for 2018

The Associated Press

DANBURY, Conn.--(BUSINESS WIRE)--Feb 11, 2019--Odyssey Logistics & Technology Corporation  (“Odyssey”) today announced that organic revenue increased 17 percent year-over-year in 2018, marking 15 consecutive years of continued growth. The increase was driven by strong performances across multiple business segments with exceptionally strong performance in the intermodal and trucking business segments.

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Odyssey Logistics & Technology posts double digit revenue and earnings growth for 2018. Pictured from left to right: Bob Shellman, president and CEO, Odyssey Logistics & Technology with Cosmo Alberico, chief operating officer and CFO, Odyssey Logistics & Technology. (Photo: Business Wire)

“Providing a carefully-assembled and evolving portfolio of market services drove another successful year at Odyssey, further strengthening our global supply chain capabilities,” said Bob Shellman, president and CEO, Odyssey. “The fourth quarter acquisition of AFF Global Logistics was the company’s largest to date and contributed significantly to our progress by bolstering our services, creating substantial value for our clients through powerful enterprise solutions.”

During 2018, Odyssey acquired AFF Global Logistics, a recognized leader in logistics services to Hawaii, Alaska, PR, freight forwarding, and comprehensive North American warehousing and distribution services. The $465 million acquisition has been combined with existing business units and a new Multimodal Global Solutions Division was formed.

Additionally, the company opened a new engineering technology center near Houston in January 2018. The center enables Odyssey engineers to design, fabricate and prototype commercial applications of safe, cost-effective and sustainable transportation solutions. Several of these patented and patent-pending innovations will provide new methods of intermodal transportation and facilitate the movement of bulk liquid commodities.

“Investing in the future of our business helps us to continue to enhance and streamline operations, drive profitability and position Odyssey to meet the increasing demands of our customers,” said Cosmo Alberico, chief operating officer and CFO, Odyssey. “Fifteen years of positive year-over-year growth is testament to Odyssey’s commitment to evolving our services enabling us to stay ahead of a dynamic industry and meet the growing needs of our customers.”

For more about Odyssey, please visit  www.odysseylogistics.com  and  www.gowithwin.com

About Odyssey

Odyssey Logistics & Technology Corporation (Odyssey) is a global logistics solutions provider with a freight network exceeding $3B globally. Odyssey’s services include intermodal services, trucking services, international services, warehousing services, managed services and consulting. With operations in North America, Europe and Asia, Odyssey operates across all modes of transport with TL/LTL trucking, containership, rail, air, and bulk transport including bulk truck, ISO Tank, railcar and tanker, as well as food-grade product lines.

The Odyssey Global Logistics Platform SM features transportation management systems that supports the safe, reliable and efficient delivery of client products throughout the world. WIN TM (Web Integrated Network) offers a scalable technology solution with an accelerated deployment and faster time to value.

For more about Odyssey, please visit  www.odysseylogistics.com  and  www.gowithwin.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20190211005116/en/

CONTACT: Derek Beere

203.393.1101, Ext. 146

dbeere@mason23.com

KEYWORD: UNITED STATES NORTH AMERICA CONNECTICUT TEXAS

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT TRANSPORT AIR MARITIME RAIL TRUCKING OTHER TRANSPORT PUBLIC TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT RETAIL

SOURCE: Odyssey Logistics & Technology Corporation

Copyright Business Wire 2019.

PUB: 02/11/2019 09:05 AM/DISC: 02/11/2019 09:05 AM

http://www.businesswire.com/news/home/20190211005116/en