Message #7 From:
NewsBot Date: April 20, 2005 08:39:45 AM
XRGI XRG Inc. Announces Appointment of Richard S. Francis as CEO
XRG Inc. Announces Appointment of Richard S. Francis as CEO
CLEARWATER, Fla.
XRG Inc.
Donald Huggins, 727-475-3060
dhuggins@xrginc.com
or
Liolios Group Inc.
Scott Liolios/Michael Cannivet (Investors), 949-574-3860
scott@liolios.com
XRG Inc. (OTCBB:XRGI), a provider of truckload freight and logistics services in the United States, today announced that the board of directors has appointed Richard S. Francis to assume the role of chief executive officer, effective immediately. He replaces departing CEO Kevin Brennan.
Francis is promoted from his prior position as president of XRG G&A Inc. and president of R&R Express Intermodal Inc., both XRG wholly owned subsidiary companies. Francis has over 25 years experience in the truckload carrier industry, and demonstrated leadership abilities that the board feels makes him best suited to lead XRG's growth effort. Under Francis' guidance, KDK Transport Inc. grew rapidly from $6 million in revenue to over $30 million, and has consistently achieved profitability. Francis graduated with high honors from Penn State University, receiving a degree in Business Logistics.
"XRG presents a unique opportunity in that it now has a solid foundation in van, flatbed, and inter-modal operations," said Francis. He continued: "We have a mixture of company-owned equipment augmented by a growing independent contractor fleet and brokerage operations, which is ideal for the current operating environment.
"Looking forward, we will engage in proactive restructuring to secure future success. This will include identifying significant cost-reduction opportunities, and strengthening our business model. XRG will continue to stabilize its core operations to provide a platform for profitability and growth."
About XRG Inc.
XRG Inc. is a public company trading on the OTCBB under the symbol XRGI that was established in November 2000 to provide truckload freight and transportation logistics services nationally. In addition to organic growth, the company is targeting expansion through terminal agreements, brokerage agreements and acquisition of well-managed carriers. The growth plans of the company will position XRG to attract and retain drivers in the highly competitive current market. For more information about XRG Inc. visit http://www.xrginc.com or call 727-475-3060.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements.
