Announcement
Montreal, January 25, 2008
Tony Young, Chairman and Owner of LCL Navigation, announces the acquisition of Confreight Maritime Lines Canada, Inc. from its parent company, Confreight Belgium NV, a member of the OTS Logistics Group. The official transfer of ownership is effective February 1, 2008. Confreight Canada will continue to operate as a wholly-owned subsidiary of LCL Navigation, based in Montreal and will be headed by Ms. Donna Pietramala who has been named Vice President of Confreight Canada as of February 1. Ms. Pietramala was a co-founder of Confreight Canada some eleven years ago and LCL Navigation is pleased to appoint her as head of the Confreight subsidiary.
As part of the acquisition, LCL Navigation has entered into a global agency agreement with Vanguard Logistics Services, including Confreight Belgium NV as its exclusive agent for Europe. Confreight is a leading NVOCC in Europe with 27 offices in 11 countries throughout Europe. It was acquired last year by the OTS Logistics Group, the parent company of Vanguard Logistics Service, which is the leading neutral NVOCC organization in the world with more than 200 offices in 105 countries and 2,400 employees. By partnering with Vanguard Logistics and with the acquisition of Confreight Canada, LCL Navigation, the leading NVOCC in Canada is now even bigger and continues to offer Canadian freight forwarders the best neutral consolidation service for both inbound and outbound LCL shipments worldwide.