Radiant Converts First Station to Company Ownership
Radiant Announces First Station Conversion with the Strategic Gateway – Newark, NJ Transitioning from Exclusive Agent Operation to Company Station
BELLEVUE, Wash., April 2, 2008 – Radiant Logistics, Inc. (OTC Bulletin Board: RLGT – News), a domestic and international logistics services company, today announced its wholly owned subsidiary Airgroup Corporation (“Airgroup”) made further gains in solidifying its North American network transitioning the strategic gateway location of Newark, New Jersey from an exclusive agent operation to company station. Airgroup-EWR will continue to operate under the direction of long-time Airgroup partner and industry veteran Frank Suraci who has joined the company as Vice President and General Manager for the Company’s Newark operations. Terms of the transaction remain confidential.
“This was a very important decision, not only for me and my family, but also for my valued employees who have worked so hard to service our valued customers over these past many years,” said Frank Suraci. “We now enjoy a new and deeper partnership with Airgroup and all look forward to building upon our prior success. I will continue to lead the charge here in Newark for a very long time to come but now can redeploy my energies to work more closely with my sales team to aggressively grow the business.”
Radiant’s Chairman and CEO, Bohn Crain, remarked, “This is an important milestone and part of the natural progression of our business strategy at Radiant as we provide the owners of our independent agent offices the opportunity for liquidity through the conversion of their privately held businesses to company owned stations. Frank and the Newark team represent the first of what we hope to be many such conversations across the Airgroup network in the years ahead. As one of our larger revenue producers, Frank and his team have carried the Airgroup flag for over 18 years and it is a true privilege and honor to have them lead the way here too.”