USF Processors Expands Reverse Logistics Services; Adds Trading Desk Capabilities

16 December 1999

USF Processors Expands Reverse Logistics Services; Adds Trading Desk Capabilities

    DALLAS--Dec. 16, 1999--USF Processors announced that it has added a trading, liquidation and procurements operation to its reverse logistics services. Al Goldman, a 35-year veteran of the trading and brokerage business, has been named to head this undertaking. He will report to Steve O'Neal, Vice President of USF Processors Trading, which redistributes unsaleable products in an array of industries through its auction site. The trading desk will join USF Processors Auction in fulfilling this mission.
    "The trading desk is an important addition to our reverse logistics services because it's another way that retailers and manufacturers can improve their bottom line by increasing their return on short-dated, overstocked and unsaleable merchandise," said Kevin Sheehan, President and CEO of USF Processors. "Adding this capability to our existing services demonstrates that we are the innovative solutions provider in reverse logistics."
    Goldman, a registered pharmacist, founded ICC Sales Corp. in 1988 as a broker and wholesaler of cosmetics, fragrances and general merchandise. He operated ICC until he joined USF Processors.
    USF Processors, a logistics subsidiary of USFreightways, is the national industry leader in reverse logistics solutions (the process of handling and maximizing the value of all items that are unsaleable, obsolete or out-of-code). USF Processors provides reclamation services and software to manufacturers, wholesalers, distributors, and retailers in more than 80 locations in the United States and Canada. The company also hosts USF Processors Auction, an Internet site dedicated to business-to-business trading of overstocked, returned, discontinued, and odd lot goods. For more information, contact USF Processors at 800.634.0370 or visit www.usfprocessors.com.

    USFreightways provides comprehensive supply chain management services, including high-value, regional less-than-truckload (LTL) transportation, logistics, domestic and international freight forwarding and premium regional and national truckload transportation. For more information, contact the Company at www.usfreightways.com.