Target Logistics, Inc. Secures $20 Million Line of Credit from Wells Fargo
20 Marzo 2007 - 7:07AM
Business Wire
Target Logistics, Inc. (Amex: TLG), a domestic and international
freight forwarder and logistics provider, today announced that the
company has secured a new $20M credit facility from Wells Fargo
Bank National Association (Wells Fargo) for a term of three-years,
increasing the company�s available credit to $20 million. Philip
Dubato, Chief Financial Officer of Target Logistics said, �We are
extremely pleased that this new facility increases Target�s
available credit by a third with more favorable terms. Our new
facility will provide Target with greater financial flexibility to
support its strategic growth goals at a time when the pipeline of
available and potential acquisitions for Target is strong and
expanding.� Target Logistics, Inc. provides domestic and
international time definite freight forwarding and logistics
services through its wholly owned subsidiary, Target Logistic
Services, Inc. Target has a network of offices in 35 cities
throughout the United States and a worldwide agent network with
coverage in over 70 countries. Its freight forwarding services
include arranging for the total transport of customers' freight,
including providing door to door service, distributions and reverse
logistics. Statements contained in this press release that are not
historical facts are forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Although Target Logistics believes that the expectations reflected
in such forward-looking statements are reasonable, the
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
projections.
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