Odyssey Logistics & Technology Corporation Announces 16th Year of Top Line and Bottom Line Growth
Strategic acquisition and continued investment in industry leading technology drives Odyssey to another strong year of growth in 2019.
DANBURY, Conn., Feb. 10, 2020 /PRNewswire-PRWeb/ -- Odyssey Logistics & Technology Corporation (Odyssey), a global leader in complex logistics and technology solutions, announced the company finished 2019 with double digit top line and bottom line growth — fueling its 16th straight year of exceptionally strong performance.
"Odyssey made several pivotal, future-focused moves that further strengthened our global supply chain capabilities and our ability to deliver best-in-class services and solutions to our clients," said Cosmo Alberico, COO and CFO of Odyssey. "The integration of American Fast Freight (AFF), organic growth within our Managed Services segment and continued advancement in technology-focused capabilities were key drivers of our continued strong performance in 2019."
In late 2018, Odyssey completed the acquisition of AFF – a leader in global 3PL logistics, and throughout 2019, the company successfully integrated complementary modes and services across common global markets. AFF provides ground, rail, air and ocean transportation as well as project logistics and warehouse and distribution services. In early 2020, Odyssey further enhanced its evolving portfolio of services with the acquisition of RPM Consolidated Services, Inc., which specializes in providing logistics services to offshore domestic markets.
Other noteworthy events contributing to growth in 2019 included an increased demand for Odyssey's Managed Logistics Services, which enable clients to leverage a full suite of supply chain services or select individual features including cargo planning, tendering, shipment visibility, configurable event management, freight audit and payment, and management reporting. Odyssey's Managed Services business segment's organic revenues grew 12 percent and earnings increased 36 percent in 2019 versus the prior year.
"Technology is fundamental to the future of logistics and Odyssey is committed to using new and future innovations to meet the increasing demands of our customers," said Bob Shellman, president and CEO of Odyssey. "But technology is only as powerful as the team behind it. Not only do we have a great team here, we strengthened our technology leadership when we brought onboard Albert Lee in early 2019 as chief technology officer to lead the way in transforming Odyssey into an unrivaled global technology leader in the logistics supply chain industry."
About Odyssey Logistics & Technology Corporation (Odyssey)
Odyssey Logistics & Technology Corporation (Odyssey) is a global logistics solutions provider with a freight network exceeding $3B globally. Odyssey improves its customers' supply chain performance through a proprietary, predictive-global technology platform, an international network of logistics engineering experts and specialized processes that drive quality, safety and sustainability. Its Door-To-Done® approach to complex global logistics helps ensure products are delivered through a safe, secure and environmentally responsible system. In addition to being certified by Responsible Care® and a leader in Jones Act transportation, Odyssey offers a broad portfolio of services including intermodal, over-the-road trucking, warehousing, global forwarding, managed services and consulting. Because of multifaceted, intricate logistics needs, Odyssey operates in high-barrier-to-entry markets with specialized bulk transportation services that include bulk truck, ISO Tank, railcar and tanker, as well as food-grade product lines. Odyssey also prioritizes giving back to the community by supporting various organizations including Project Outreach® and Junior Achievement®. For more information on Odyssey, visit http://www.odysseylogistics.com.
SOURCE Odyssey Logistics & Technology Corporation
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