JAMAICA, N.Y., Jan. 28 /PRNewswire-FirstCall/ -- Janel World Trade, Ltd. (OTC Bulletin Board: JLWT), a full-service global provider of integrated transportation, logistics and environmental services, today announced it has received approval from the United States Trade Development Agency (USTDA) for a grant to conduct a pilot project in Meigliang Bay (Lake Tai) China in the spring of 2010.
Janel had completed all comprehensive and successful testing on the effectiveness and safety of Clear Blue 104™ as an effective algaecide and bactericide in live lake conditions last year. The explosion of algae and its related problems is the daunting issue facing Lake Tai, a body of water the size of Lake Huron and the primary source of drinking water for the city of Shanghai. The problem impacts other major sources of drinking water in China and around the globe.
This successful testing was the first important step toward obtaining the USTDA grant, which carries US support and approval for the project because it could lead the way to a broader use of US products and services in the China environmental market. Janel is the sole distributor of Clear Blue in China, where it is a registered product.
Over the past 18 months, the company has leveraged its presence in China and its expertise in providing worldwide logistic and project management services to build a consortium of US and Chinese companies with specific skill sets and expertise. Accordingly, under the leadership of the Janel Project Management Division, Janel will bring technology, products and services to bear on this daunting environmental problem.
In addition to supplying the Clear Blue product, Janel Project Management Division will be responsible for providing the project design and management, freight forwarding, product application, technology supporting local dredging, sediment remediation, warehousing, monitoring, analysis and reports on the Lake Tai pilot project.
"This pilot test -- which should only take weeks to complete and verify -- could be the first step and lead the way toward the start of a multi-billion dollar project on Lake Tai," said Paul McCreary, President of Janel's Project Management Division. "The Chinese government has already publicly stated the cleanup of the lake is a priority, and The World Bank has pledged financial and organizational support to the undertaking. We believe our presence in China combined with almost two years of research, time and resources spent on the project, put Janel in a solid position to participate in this and other environmental initiatives around the globe."
In applying for the grant, the company enlisted and gained important support from Congressmen Gregory Meeks (Dem. NY), Michael McMahon (Dem. NY) and Senators Charles Schumer (Dem. NY) and Robert Menendez (Dem. NJ). "Our representatives and Senators were instrumental in driving support for the USTDA grant for this project," said James Janello, CEO of Janel. "The weight, importance and commitment of the US government behind us and their commitment to enhancing US exports is immeasurable and a critical component of our progress.
"This is the first step of what could prove to be the dawn of a new era for our company. In addition to Lake Tai, we continue to hold discussions and review the feasibility of bringing the essential components to provide a complete environmental solution to major water problems around the globe."
The U.S. Trade and Development Agency (USTDA) advances economic development and U.S. commercial interests in developing and middle income countries. The agency funds various forms of technical assistance, early investment analysis, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.
USTDA's strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development. Operating at the nexus of foreign policy and commerce, USTDA is uniquely positioned to work with U.S. firms and host countries in achieving the agency's trade and development goals. In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services
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), the Far East (Hong Kong, Shanghai, and Shenzhen) and Central America (El Salvador, Honduras and Guatemala) , the Company provides the comprehensive 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.
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.
SOURCE Janel World Trade, Ltd.