Optimized Transportation Management, Inc., a full-service supply chain logistics company that helps businesses manage, execute and optimize their global supply chain strategies, recently announced that the company has signed a letter of intent to merge with Griffin Transport, Inc., a global supply chain company. Griffin Transport provides a diverse mix of logistics services throughout the world and generated approximately $20 million in gross revenue.
Commenting on the merger, Larry Berry, chief operating officer of Optimized Transportation Management, stated, “The addition of Griffin to our company will allow us to expand our services in warehousing, sub-assembly business, and provide us with a global presence.” He continued, “We are excited about the addition of this well-operated supply chain operation and the extensive expertise it will provide our operation. This merger will allow Optimized Transportation Management to offer additional services to its customers.”
Optimized Transportation Management reported revenue of approximately $2 million and a gross profit of $565,000 for the second quarter of 2009. Net income totaled nearly $45,000 during the same time period, compared to a loss of $68,000 in the second quarter of 2008. During the first half of 2009, the company generated over $5 million in revenue and more than $1 million in gross profit.