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QUEENS, NY (December 9, 2005)— IJS Global Inc.®, a fast-growing international air and ocean freight forwarder, customs broker and non-vessel operating common carrier, said today its new Hong Kong-based air and ocean forwarding subsidiary will establish nationwide operations across China after receiving a “Class A” freight forwarding license from the Beijing government.
The permit enables the new company, IJS Global China, to offer a full range of logistics services in China such as direct sales, carrier booking, customs clearance and warehousing and distribution. Under Chinese law, foreign-based freight forwarders with a Class A license can operate within China without sub-contracting its operations to another company that already holds such authority.
In its first transactions outside the U.S., IJS Global in October acquired the ESI Group that included Hong Kong-based forwarder ESI Freight Ltd. and ESI Freight (China), which serves mainland China. ESI Freight had applied for licensing authority through the Beijing government and received authorization for nationwide Class A operations in August 2005. The new PRC company, IJS Global China, will begin operations January 1, 2006 and will be headquartered in Shanghai.
“Our nationwide `Class A’ license authorizes IJS Global to fully expand its geographic presence in China, giving us the flexibility to tailor full-service logistics solutions throughout the country without having to defer to a third party,” said Simon Tam, managing director, China/Hong Kong, IJS Global. With the licensing authority as a springboard, IJS Global China intends to open additional facilities throughout China during 2006, Tam said.
Effective January 1, the Hong Kong operation will change its name to IJS Global (Hong Kong) Ltd.
“We will continue to grow our Asian presence, with China as the centerpiece of our efforts,” said John Gallahan, president and CEO, IJS Global. “As we expand in the Asia region, we will seek out prospective partners with solid managements, proven and successful business models, strong product and geographic niches, and loyal customer bases.”
ABOUT IJS Global Inc.®
Headquartered at New York’s JFK International Airport, IJS Global, Inc. is building a global logistics footprint through a strategy of internal growth and timely acquisitions. It operates out of six U.S. offices and internationally through a network of agents and company owned offices. IJS Global was acquired in December 2004 by Brynwood Partners V L.P. Brynwood Partners has managed its private equity funds since 1984 and invests in small, mid-market businesses specializing in consumer products, light industrial manufacturing, specialty retailing and business services.
IJS Global can be found online at www.ijsglobal.com. Brynwood Partners can be found online at www.brynwoodpartners.com.
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