BELLEVUE, Wash., Jan. 2, 2007 (PRIME NEWSWIRE) -- Radiant Logistics, Inc. (OTCBB:RLGT), a domestic and international logistics services company, today announced its wholly owned subsidiary Airgroup Corporation ("Airgroup") made further gains in the growth of its North American operations, opening new offices in Portland, Oregon. Airgroup-PDX will operate as a new exclusive agent location and leverage the Company's robust technology platform and global network to provide domestic and international freight forwarding and logistics services throughout the Pacific Northwest.
Julie and Bob Hansen will lead Airgroup-PDX and leverage their over 50 years of combined experience in servicing their diversified base of domestic and international customers. "This is a great way to start the New Year," said Mr. Hansen. "Ocean freight, airfreight and domestic transportation have been our sole business interest for years. The entire Portland team has fostered long term relationships with our customers, vendors, and associates through years of dedicated service. Our customers have always been our priority, whether they were local, within the United States or abroad. We were looking for a strategic partner with the vision and resources to help us meet our own goals for growth. With Radiant, we believe we have found a unique opportunity to leverage our own strengths along with the capabilities of the Airgroup network to bring additional value to our customers while enjoying the benefits of participating in an organization that, through its status as a public company, gives us the ability to become shareholders and share in the value that we help create."
Radiant's Chairman and CEO, Bohn Crain, remarked, "We are very excited to have Julie and Bob Hansen join our team. I am confident that they will have an immediate and positive impact to our organization which continues to grow in strength and size. As part of this move, we will also continue to enjoy the services of Edward Jones and the staff of the former Airgroup-PDX operation who have transitioned to Airgroup-EUG (Eugene, Oregon) and will continue to provide operational support and synergies for the region."
Crain continued: "Our value proposition continues to gain momentum in the marketplace as we believe we are uniquely positioned and responsive to the needs of the entrepreneurial logistics professionals looking for a better way forward. We continue to aggressively purse an organic growth strategy to attract additional exclusive agent operations across North America and we are in various stages of dialogue/due diligence with a select number of candidates. Based on our assessment of the opportunities at hand, we remain highly confident in our previously provided revenue targets for calendar year 2007 in the range of $65-$70 million, or an increase of 30-40%. We have a solid foundation in place with the people, process and technology to effectively manage the accelerated growth that we anticipate over the course of 2007. It's going to be an exciting year for everyone involved."
About Airgroup Corporation
Airgroup Corporation (www.airgroup.com) is a wholly-owned subsidiary of Radiant Logistics, Inc. Airgroup, founded in 1987, provides the platform for Radiant's freight forwarding and logistics operations and services a diversified account base including manufacturers, distributors and retailers through its extensive network of exclusive agent offices across North America. To learn more about how to join the Airgroup network please call contact Bill Moultrie at (425) 462-1094 x514.
About Radiant Logistics (OTCBB:RLGT)
Radiant Logistics (www.radiant-logistics.com) is executing a strategy to build a global transportation and supply chain management company through organic growth and the strategic acquisition of regional best-of-breed non-asset based transportation and logistics providers to offer its customers domestic and international freight forwarding and an expanding array of value added supply chain management services, including order fulfillment, inventory management and warehousing. For more information about Radiant Logistics, please contact Bohn Crain at (425) 943-4599.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding future operating performance, events, trends and plans. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. While it is impossible to identify all of the factors that may cause our actual operating performance, events, trends or plans to differ materially from those set forth in such forward looking statements, we have identified certain of the more salient risk factors in our filings with Securities and Exchange Commission and other public documents and press releases which can be found on our web-site (www.radiant-logistics.com). Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. Such statements are not guarantees of future performance or events and we undertake no obligation to disclose any revision to these forward-looking statement to reflect events or circumstances occurring after the date hereof.