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USF Worldwide Logistics to Acquire UK-based Ultimex Global Logistics PLC

1 August 2000

USF Worldwide Logistics to Acquire UK-based Ultimex Global Logistics PLC

    ITASCA, Ill. - USF Worldwide Logistics, a logistics subsidiary of USFreightways Corporation, announced today that it has entered into an agreement to acquire Ultimex Global Logistics PLC.

    Headquartered in London, Ultimex Global Logistics PLC is one of Britain's leaders in international transportation and logistics. The company's expertise in ground transportation, logistics solutions, and worldwide air and ocean services have led to the development of a broad range of service options for clients. The company has been recognized in two independent national surveys as one of the fastest growing private businesses in Britain. Earlier this year, they were awarded the BIFA Gold Service award, the UK forwarding industry's highest award for customer excellence.

    The firm will be acquired from its three principles, who will remain with the company in the top management positions. Mark White has accepted the position of President and Chief Executive Officer, Mark Gilbert will carry on as Vice President of Development, and Brian Vella remains as Vice President of Marketing and Sales.

    Doug Christensen, President and Chief Executive Officer of USF Worldwide Logistics, stated, "We are delighted to be presented with this opportunity to expand our freight forwarding and logistics operations to the United Kingdom. This dynamic, well-run company joins USF Asia Group in forming the foundation for our plan to become an integrated global supply chain provider." Mark White commented, "This is a fantastic opportunity for all of us and an important milestone in Ultimex's rapid growth."

    USF Worldwide Logistics provides domestic and international freight forwarding services; transportation management, dedicated fleet, contract warehousing and dedicated cross-docking; assembly and distribution services; reverse logistics; and complete supply chain solutions for online retailers and manufacturers.

    USFreightways , the parent of USF Worldwide Logistics, also provides high-value, regional less-than-truckload (LTL) transportation, and premium regional and national truckload transportation.