GARRISON, N.Y., Sept. 28, 2004 (PRIMEZONE) -- Transportation Logistics Int'l, Inc. (OTCBB:TRPL) announced today that it has signed a preliminary agreement to acquire a majority interest in Compagnie Logistique De Transports Automobiles (CLTA), a major French transportation organization.
CLTA, is headquartered in Nugent sur Oise, France, a suburb 35 miles north of Paris. It is a twenty year old company with over 130 employees, 90 trucks and revenue in excess of $18,000,000 a year.
CLTA's principal activities involve the warehousing of approximately 8,000 Peugeot and Citroen cars for the manufacturer, and then doing the final dealer preparation work prior to delivery throughout Europe. In addition, CLTA does brake installations and testing of new cars for Peugeot.
Michael Margolies, TRPL's Chairman and CEO, was excited: "This acquisition does a lot of good things for Transportation Logistics. Most important, it will provide cash flow needed for products, promotion and sales by TRPL's other divisions, especially Advanced Medical and J&J Marketing.
"CLTA has already signed an additional contract with Peugeot which takes effect on January 1, 2005 and is valued at over $4,000,000 in additional revenue per year. We've also identified another acquisition candidate in Europe which would blend perfectly with CLTA. This logistic foothold outside the U.S. opens numerous dramatic opportunities for us, and we plan to take advantage of as many of them as we can."
For further information contact Mike Margolies at 845-424-4100.
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will provide to be correct. Factors that could cause results to differ include, but are not limited to successful performances of internal plans, the impact of competitors, and general economic risks and uncertainties.