Stonepath Secures Contract with Brazilian Firm Tapping Demand For GE Locomotives
January 26 2006 - 6:43PM
Business Wire
Stonepath Group (AMEX:STG), the global logistics services
organization, today announced the Company has been awarded a
significant logistics project by Sao Paulo-based EIF (Engenharia e
Investimentos Ferroviarios), an engineering firm specializing in
reconditioning locomotives. Revenue for the project is in excess of
$2.5 million. EIF has engaged Stonepath to orchestrate the complete
end-to-end logistics solution for the movement of 53 pre-owned
General Electric locomotives, each weighing 160 metric tons, from
their points of origin in the United States to Santos, Brazil where
they are reconditioned and sold to major Brazilian Railway
companies. EIF expects to purchase another 400 units within the
next two years due to strong demand for pre-owned General Electric
locomotives in Brazil. "We are very pleased EIF has chosen
Stonepath as their provider of choice for this complex, heavy-lift
logistics operation," said Lothar Kammerer, Senior Vice President
of Project Cargo Services for Stonepath Logistics. "Our team, and
particularly Marcelo Rocha, Stonepath's Project Manager for South
America, has done an outstanding job positioning us for success in
this important region and helping to establish Stonepath as a
leading provider of integrated logistics solutions worldwide."
Stonepath Project Services Based in Houston, Texas, with
capabilities worldwide, Stonepath Project Services group provides
integrated logistics solutions for large-scale, complex operations.
Stonepath provides a complete outsourced solution in global
integrated logistics by monitoring project activity from "Factory
to Foundation." About Stonepath Group (AMEX:STG) Stonepath
(www.stonepath.com) is a global, third-party logistics organization
providing a full range of transportation and distribution solutions
to multinational and local businesses. Through a strategic
acquisition program and strong organic growth, the Company has
expanded rapidly, establishing a network of owned operations
throughout North America, the Asia Pacific region and Latin
America. For more information about the Company, please contact
John Brine at (212) 254-8280.
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