AUSTIN, Texas, March 13, 2006 (PRIMEZONE) -- MagRabbit, Inc., a leading third party logistics (3PL) and transportation provider, today announced that MagRabbit-Stonepath, LLC, its joint venture with Stonepath Group (AMEX:STG), the global logistics services organization, has been awarded a transportation contract by the United States Military Surface Deployment and Distribution Command - (SDDC) to support their less-than-truckload surface transportation requirements throughout North America. The contract with the SDDC guarantees a minimum of approximately $123,000 in revenue with a potential of $7.7 million in revenue over a three-year period.
"We are honored to be chosen as one of SDDC's transportation providers and look forward to demonstrating our value over the course of the next three years," said Tommy Hodinh, MagRabbit Chairman and CEO.
Headquartered in Alexandria, Va., with its Operations Center at Fort Eustis, Va., the Military Surface Deployment and Distribution Command is responsible for the global, joint movement of combat units, sustainment cargo, service member household goods and privately owned vehicles.
About MagRabbit, Inc.
MagRabbit is an award-winning minority business enterprise (MBE) specializing in third party logistics (3PL) and transportation services. MagRabbit increases the value of its customers' enterprises through custom and highly complex logistics and transportation solutions. MagRabbit has the systems, technology, and 15 years of domain expertise to deliver exceptionally high levels of service and quality to its customers. Companies like Dell, Toyota, Boeing, Ford, DaimlerChrysler, General Motors, and Buffalo Technology trust MagRabbit for their mission critical logistics needs.
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About Stonepath Group (AMEX:STG)
Stonepath (www.stonepath.com) is a global, third-party logistics organization providing a full range of transportation and distribution solutions to multinational and local businesses. Through a strategic acquisition program and strong organic growth, the Company has expanded rapidly, establishing a network of owned operations throughout North America, the Asia Pacific region and Latin America. For more information about the Company, please contact John Brine at (212) 254-8280.