RANCHO DOMINGUEZ, Calif., Feb. 16, 2005 (PRIMEZONE) -- UTi Worldwide Inc. (Nasdaq:UTIW) today announced the signing of a contract with Wal-Mart Stores East, L.P. (an affiliate of Wal-Mart Stores, Inc.) (NYSE:WMT) awarding UTi's Standard Corporation the management of warehouse distribution services for a new import storage complex for Wal-Mart. The multi-million-square-foot Wal-Mart complex is scheduled to open in April 2005 and will be located in Baytown, Texas, 25 miles east of Houston near Galveston Bay.
Under the award, Standard will be responsible for receiving goods and shipping them to Wal-Mart's regional distribution centers.
"We see this award as a testament to the leadership role UTi is building in contract logistics," said Roger I. MacFarlane, UTi's chief executive officer. "This contract demonstrates the breadth, depth and quality of our team in the United States and worldwide."
Bill Gates, chief executive of Standard Corporation, added: "We have built a strong relationship with Wal-Mart over the past four years, operating an import flow and storage operation in Charleston, South Carolina, for Wal-Mart's Direct Import Department. We look forward to this new assignment and to expanding the value of UTi's contract logistics services with one of our key customers."
Tim Yatsko, vice president of Direct Imports for Wal-Mart Stores, Inc., commented, "Standard Corporation has done an outstanding job for Wal-Mart in the past. We look forward to their excellent performance going forward. The Baytown, Texas facility will serve our Central US Distribution Centers as part of our expanding Direct Import network."
The new complex brings total warehousing facilities under UTi's management to more than 20 million square feet and adds to a series of contracts recently signed by Standard Corporation. In 2004, Standard opened a distribution center in Toluca, Mexico, near Mexico City, for a major automotive customer -- the fourth such facility outsourced by the company to Standard. Additionally, a major paper and consumer goods customer recently retained Standard to operate a 350,000 square-foot distribution center in Richmond, Virginia.
UTi Worldwide's operations currently encompass a network of freight forwarding offices in 257 cities and 106 distribution centers in 54 countries.
About UTi Worldwide
UTi Worldwide Inc. is an international, non-asset based global integrated logistics company providing air and ocean freight forwarding, contract logistics, customs brokerage and other supply chain management services. The company serves a large and diverse base of global and local companies, including customers operating in industries with unique supply chain requirements such as the pharmaceutical, apparel, chemical, automotive and technology industries. The company seeks to use its global network, proprietary information technology systems, relationships with transportation providers and expertise in outsourced logistics services to deliver competitive advantage to each of its customers' global supply chains.
Safe Harbor Statement
Certain statements in this news release may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company intends that all such statements be subject to the "safe-harbor" provisions contained in those sections. Such statements may include, but are not limited to, the company's discussion of its contract logistics objectives and growth strategies and its ability to fulfill its contract obligations to Wal-Mart Stores and others. Many important factors may cause the company's actual results to differ materially from those discussed in any such forward-looking statements, including increased competition; the effects of changes in foreign exchange rates; general economic, political and market conditions, including those in Africa, Asia and Europe; risks of international operations; the success and effects of new strategies, disruptions caused by epidemics, conflicts, wars and terrorism; and the other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. Although UTi believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by UTi or any other person that UTi's objectives or plans will be achieved. The historical results achieved by the company are not necessarily indicative of its future prospects. UTi undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.