Despite the havoc wreaked on American business by last week’s terrorist attacks, third-party logistics firm Stonepath Group has not deviated from its expansion plan, acquiring other logistics companies to grow.
In a statement, Dennis Pelino, Stonepath’s chairman and CEO, said that his company’s pending acquisition of the Minneapolis-based Air Plus, a privately held logistics and transportation services company, is expected to close on schedule. Pelino added that Stonepath’s annual meeting planned for October 9 in New York City remains unchanged.
During the recent crisis, Air Plus and its affiliates have been fully operational, said Pelino. As its domestic delivery system is heavily focused on ground transportation, Air Plus has seen an increase in demand from clients experiencing difficulties moving cargo through the domestic airline system. Air Plus expects this to continue as corporations rely more heavily on logistics providers who focus on dedicated distribution networks.
Pelino added that the demand for more secure logistics services should continue to grow in light of recent events. “It is very clear that the logistics and transportation industry will play an even greater role in our economy going forward. We are ready for the challenges ahead and we are totally committed to helping companies develop and implement reliable, secure transportation solutions,” he said.