Friday, October 9, 2009

US Truck Company Acquires Freight Forwarder

Start of planned international expansion
Shipping News Feature

USA - Michigan based Express-1 Expedited Solutions (XPO) has completed its acquisition of LRG International Inc., an international forwarding company that specializes in ocean and air freight services. The acquisition will expand the company’s international scope with LRG being combined into XPO’s Illinois branch, Concert Group Logistics (CGL).

Commenting on the acquisition, the Company’s CEO, Michael Welch, said, “We are very excited about the acquisition of a company with the reputation of LRG. This acquisition is evidence that we are committed to advancing the size and capabilities of our CGL logistics network. LRG is a non-asset based International Freight Forwarder which will offer XPO strong growth.”

“This is an important acquisition for us. Adding LRG and its highly experienced team to CGL brings new strength to our customers who ship internationally,” said Gerry Post, president of CGL. “It enhances our service offering, expands our foreign network and strengthens our ocean and air capabilities enabling us to move upon the global frontier with strong resources and capabilities.”

The move is a significant one for XPO, which traditionally services the US-Canada-Mexico trucking markets. Under the auspice of CGL the company plans to use the acquisition to expand into Europe, Asia and other major geographic regions throughout the world. Management of the new combination believe that together they will be able to penetrate new markets and offer better quality and wider-ranging logistics services to customers.

“Becoming part of a recognized industry leader like XPO is a special opportunity for LRG, its customers and business partners worldwide," said Henrik Jorgensen, president of LRG. "Our knowledge and experience in handling and shipping both imports and exports will be a strong asset to XPO's global logistics and transportation portfolio. We are extremely excited to partner with such a dynamic organization that places a high priority on employee and customer satisfaction.”