Cargo Connection Logistics Holding, Inc. (OTCBB: CRGO) (BERLIN: CD6.BE) (FRANKFURT: 217026) today announced that representatives of its wholly owned subsidiary, Cargo Connection Logistics -International, Inc., recently visited Vietnam to explore opportunities on behalf of the Company. The expedition was primarily informational and represents the first step in establishing a business relationship between Cargo Connection Logistics and freight forwarders in Vietnam.
“We believe our shareholders should have a good understanding of the size and scope of the Vietnamese Market,” said Jesse Dobrinsky, CEO of Cargo Connection Logistics Holding, Inc. “The Vietnamese government is investing heavily into its infrastructure to promote growth. We are expecting to receive shipments that are Less than Container Loads (LCL) as well as Full Container Loads (FCL). Statistics from the US Department of Transportation outline what expected exports from Vietnam currently exist. According to the US DOT, 40% of the goods coming from Vietnam are related to the apparel industry, 23% are none-knit articles and 17% are knit articles. Just fewer than 11% of the exports from Vietnam are in the footwear category.
“The balance of the exports from Vietnam consist of furniture which accounts for about 11% of the exports while the remaining is miscellaneous merchandise which accounts for approximately 38% of the balance of the exports,” added Dobrinsky. “Cargo Connection Logistics expects to be a participant in all aspects of merchandise being exported from Vietnam into the United States.”
Dobrinsky pointed out that many people are surprised to learn that Vietnam, with nearly 84 million people, is the 15th largest country in the world. It is larger than the United Kingdom, Germany, France and Italy.
“We were so well received by the manufacturers and forwarders in Vietnam that we are confident that we will be signing several agreements over the next few weeks,” said David Quach, President of Cargo Connection Logistics -International, who was part of the Cargo Connection contingent visiting the Southeast Asian country. “We expect that our extensive seven-years of experience in the fashion business, coupled with the systems we have in place to support this type of enterprise, will make this a very successful opportunity.
“We expect to formalise agreements soon with several companies in Vietnam and we will keep our stockholders abreast of these agreements as they come to fruition,” Quach said.
About Cargo Connection Logistics Holding, Inc.
Company: Cargo Connection Logistics Holding, Inc. consists of Cargo Connection Logistics Corp and Cargo Connection Logistics -International, Inc. (formally Mid-Coast Management, Inc.), which are both headquartered in Inwood, NY. The Co also has offices in Atlanta, GA, Charlotte, NC, Chicago, IL, Columbus, OH, Miami, FL, New York, NY, Pittsburgh, PA, and San Jose, CA. Cargo Connection Logistics is a leader in world trade logistics. Headquartered adjacent to JFK International Airport, the company is a transportation logistics provider for shipments importing into and exporting out of the United States, with service areas throughout the United States and North America. The companies currently provide a comprehensive variety of transportation and warehouse capacity services to shippers throughout the nation. They have container freight station operations specifically designed to handle internationally arriving freight for the major retail suppliers through its CFS facilities in Florida, Georgia, Illinois, New York and Ohio. Cargo Connection Logistics’ website is www.cargocon.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Co is detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission, including, without limitation:
— the Company’s ability to increase its revenues, including by obtaining
contacts with foreign shippers,
— the Company’s financial condition, including its ability to continue
as a going concern,
— the effect of the Co being in default on its indebtedness,
— the Company’s ability to raise additional capital,
— the Company’s reliance on key personnel and independent agents, and
— the Company’s vulnerability to economic and industry conditions
Peter Nasca Associates, Inc.
SOURCE: Cargo Connection Logistics Holding, Inc.