JAMAICA, N.Y., June 28, 2006 (PRIMEZONE) -- Pacific CMA, Inc. (AMEX:PAM), an integrated provider of global freight forwarding/logistics focused on the growing China and Asian trade, today announced that its Hong Kong operating unit, AGI Logistics (HK) Ltd., has entered into a services and marketing agreement with Sifte Berti, one of Italy's largest privately owned freight forwarders and logistics providers. Under the agreement, AGI will service freight movements and logistics requirements for Asian exports to Italy (particularly from China and Hong Kong) as well as for Italian imports to Asia. Over the past four months, the trade alone between Hong Kong and Italy has amounted to US$6.8 billion. In addition, the two companies will cross sell each others products in their respective territories.
Alfred Lam, Pacific CMA's Chairman and CEO, commented that the agreement advances the Company's strategy for further expansion in Europe and Asia. "This mutually beneficial relationship will increase our share of the Italian market while contributing to total revenues and cash flow. It is yet another endorsement of the high quality and reliability of our transport and logistics services and competitive rates," Mr. Lam said.
About Pacific CMA
Pacific CMA is an international, non-asset based supply-chain management company, providing air and ocean freight forwarding, contract logistics, and other logistics-related services. The Company's large and diverse global and local customers operate in industries with unique supply chain requirements, such as the apparel and technology industries. Its AGI Logistics (HK) Ltd. operating unit, based in Hong Kong, is focused on integrated logistics, freight forwarding and warehousing services in the Far East region and Mainland China. Its Airgate International operating unit, founded in 1995, is based in New York and primarily handles import air and ocean shipments from the Far East and Southwest Asia to the United States. The newest division, Paradigm Global Logistics, is located in Los Angeles. For more information, please refer to the Company's Web site: http://www.pacificcma.com.
Forward Looking Statements
This press release may contain statements which constitute forward looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, including statements regarding the intent, belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company. These forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "plan," "estimate," "approximately," "intend," and other similar words and expressions, or future or conditional verbs such as "should," "would," "could," and "may." In addition, the Company may from time to time make such written or oral "forward-looking statements" in filings with the Securities and Exchange Commission (including exhibits thereto), in its reports to shareholders, and in other communications made by or with the approval of the Company. Investors are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward looking statements as a result of various factors. Important factors that could cause such differences are described in the Company's periodic filings with the Securities and Exchange Commission.