RANCHO DOMINGUEZ, Calif., Oct. 3, 2005 (PRIMEZONE) -- UTi Worldwide Inc. (Nasdaq:UTIW) today announced the acquisition of Concentrek, Inc., a provider of advanced transportation management and supply chain solutions. The privately held company was acquired from its principal shareholders, including its senior management team and Knight Transportation, Inc. (NYSE:KNX). Terms of the transaction were not disclosed.
Founded in 1999, Concentrek offers a wide range of logistics services, including supply chain analysis and design, outsourced transportation management and advanced optimization technology for more efficient routing of shipments. Named as a "Top 100 3PL" by Inbound Logistics Magazine for five consecutive years, the company provides outsourced solutions for some of the largest manufacturers and distributors in North America. Concentrek employs approximately 80 associates at its headquarters in Grand Rapids, Michigan and at customer sites throughout the U.S. and Canada.
"UTi's acquisition of Concentrek marks another important milestone in our NextLeap strategy for global integrated logistics," said Roger I. MacFarlane, UTi's chief executive officer. "This acquisition will enable UTi to offer more comprehensive transportation optimization solutions for our customers, utilizing advanced transportation management and supply chain tools that complement our existing contract logistics solutions. We warmly welcome the talented management and associates of Concentrek to the UTi family."
"We are pleased to join UTi's impressive organization. It is a testament to the hard work and creativity of our associates that Concentrek fits so well with UTi's objectives for global integrated logistics," said John Patterson, president and chief executive officer of Concentrek. Patterson co-founded Concentrek with two other industry executives, Mike McClelland, who heads the company's operations, and Greg Morello, who is responsible for business development -- all three of whom will continue to lead the company.
William T. Gates, chief executive officer of UTi Integrated Logistics, added: "The addition of Concentrek complements our service portfolio and enables UTi to offer a more comprehensive end-to-end solution for customers throughout North America. Concentrek adds transportation management capacity for UTi's customers as well as proven optimization technology and in-depth industry expertise."
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 objectives for and expectations of the acquisition of Concentrek and its ability to meet customers' needs. Many important factors may cause the company's actual results to differ materially from those discussed in any such forward-looking statements, including integration risks associated with acquisitions, a challenging operating environment; increased competition; the effects of increasing fuel prices, integration risks associated with acquisitions; the effects of changes in foreign exchange rates; changes in the company's effective tax rates; industry consolidation making it more difficult to compete against larger companies; 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.