Message #23 From:
NewsBot Date: July 18, 2006 06:52:13 PM
CRGO: Cargo Connection Logistics -- International First International Shipment Arrives in the United States
Containers From Vietnam Received at the Port of Oakland
Cargo Connection Logistics Holding, Inc. (OTCBB:CRGO stock message board) (BERLIN: CD6.BE) (FRANKFURT: 217026) today announced that its wholly International, Inc., has been tracking its first containers of cargo from Vietnam and that they have arrived in the United States.
"The freight arrived in the United States on July 12th and has been successfully delivered to the Consignee, through the Port of Oakland," said David Quach, President of Cargo Connection Logistics -- International, Inc. "This officially marks Cargo Connection Logistics' entry into the International arena. As we continue to expand, we expect that many shippers will take advantage of the Cargo Connection Logistics Network and its strong infrastructure within the United States."
We expect that our extensive experience and expertise in the fashion business, as well as the information systems we have in place will support this business. We believe that these characteristics are exactly what will continue to make this a very successful venture," continued Quach. This shipment was paid for prior to the freight being delivered to Consignee.
Quach also said, "Cargo Connection Logistics -- International, Inc. is aggressively pursuing other agreements with several companies in Vietnam. The company expects to formalize these pursuits over the coming weeks." The Cargo Connection Logistics network has focused on the Vietnamese market for several reasons. These include a significant increase in new factories, which is partly fueled by a robust and inexpensive labor market. Another reason is the rapid expansion of the Vietnamese Port System and Vietnam's upcoming membership into the World Trade Organization (WTO).
The Vietnamese Ministry of Foreign Affairs states that, "Vietnam has also made substantial preparatory steps for its active international economic integration in key service sectors like telecom, distribution, financial services in accordance with international standards. Vietnam has so far offered commitments in 11 service sectors and approximately over 100 service sub-sectors in its WTO accession negotiations." (See; Vietnam is prepared for WTO membership)
"Vietnam is rapidly becoming a leading source for retailers looking for high-quality production of furniture, toys and clothing at very competitive rates," said David Quach.
"The Vietnamese government is heavily investing in its infrastructure in order to promote internal and international growth," said Jesse Dobrinsky, CEO of Cargo Connection Logistics Holding, Inc. "We are expecting to receive shipments that are Full Container Loads (FCL) as well as Less than Container Loads (LCL). Cargo Connection Logistics expects to be a participant in all aspects of merchandise being exported from Vietnam, which is one of the 15 largest countries in the world." Dobrinsky went on to say, "We expect to continue bringing Vietnamese freight into the United States and for this venture to be a continued success."
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 Company 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. They also have a General Order Warehouse operating in New York.
Cargo Connection Logistics' website is http://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 Company 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 Company 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
