JAMAICA, N.Y., April 27, 2011 /PRNewswire/ -- Janel World Trade, Ltd. (OTC BB: JLWT), a full-service global provider of integrated transportation logistics and environmental services, announced today that the company's previously announced new operating division, which is focused on vertical sales primarily in the food industry, has signed an exclusive agreement with Paul Sorvino Foods, Inc. (PSF). The agreement is for all supply chain services, including supplier selection, manufacturing, transportation, import, distribution, marketing, and sales of all Paul Sorvino branded Italian food products. The benefits of reduced costs, shorter time to market, and Janel's demonstrated ability to react quickly were recognized by Paul Sorvino Foods and have resulted in a ten-year exclusive agreement.
"Our new one-stop, vertically integrated service has a market in our industry," said James N. Jannello, Executive Vice President and Chief Executive Officer of Janel. "Since our core competency in logistics complements Paul Sorvino Foods' expertise, we increase their visibility into the supply chain and reduce their risks. We are very excited to welcome Paul Sorvino Foods as our first customer in our new vertically integrated initiative."
Janello continued, "Overall, this is a great opportunity for our company. Not only will we manage the international freight forwarding and logistics associated with distribution and warehousing of the Paul Sorvino branded food products, but we also provide sales and marketing services in the US."
"The overall cost and operational efficiencies brought the organizations closer together and resulted in the long-term and exclusive agreement with Janel for the marketing and distribution of Paul Sorvino Food products," said Samuel Frabizzio, member of the Board of Directors of PSF. "The expertise of the group related to all aspects of taking a product from concept to market made our decision easy."
Nick Ferrara, President of Janel's New Jersey operation, noted, "I expect the agreement between our two companies will generate initial revenues during the June quarter of 2011 and increase to multi-million dollar revenues in 2012. Janel's focus continues to be increasing revenues and profitability. By 'thinking outside the box,' we expect to further both corporate goals."
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About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics and environmental services, including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta) and a network of independent international agents in approximately 52 countries, the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.
Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTC Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.net
About Paul Sorvino Foods, Inc.
Paul Sorvino Foods is a Delaware-based company. Actor Paul Sorvino is a shareholder of PSF. Products include Italian Pasta Sauce, Pasta, Canned Tomatoes, Olive Oil, Peppers, Balsamic Vinegar and Wines. "Simply the Finest" is the company's trademarked slogan. Additional information is available at http://www.paulsorvinofoods.co
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Janel World Trade
SOURCE Janel World Trade, Ltd.