Crowley Acquires Columbus Distributing, Inc. (CDI)
(Anchorage, Alaska; Jan. 6, 2006) – Crowley announced today that it has acquired Columbus Distributing, Inc. (CDI), a fuel distribution business based in Anchorage, Alaska. The newly acquired company will be known as Columbus Distributing, Inc., a Crowley company.
Crowley’s Dorine Tessier will join the CDI team as general manager reporting to Craig Tornga, vice president, Alaska Fuel Sales and Distribution.
CDI has served Alaska since 1959, and was founded by Joe Columbus Sr. CDI has two business segments, wholesale fuel distribution and retail card lock service stations. The company handles approximately 26 million gallons of fuel annually.
“This acquisition is a perfect fit for Crowley’s existing fuel distribution business in Alaska,” Tornga said. “It provides us the opportunity to handle additional brands and doesnt overlap with our current business thus providing a true expansion opportunity.”
CDI allows Crowley to further strengthen its Anchorage operations and expand geographically onto the Kenai Peninsula and into Fairbanks.
CDI, which will be included in Crowley’s petroleum services business line, will remain headquartered in Anchorage and will continue with fuel distribution as its core business.
Oakland-based Crowley Maritime Corporation, founded in 1892, is primarily a family and employee-owned company that provides diversified transportation and logistics services in domestic and international markets by means of four operating lines of business: Liner Services; Logistics Services; Petroleum Services and Marine Services. Other services provided within these business lines include contract towing and transportation; ship assist and escort; energy support; salvage and emergency response; vessel management, and petroleum and chemical transportation, distribution and sales. Visit www.crowley.com for more information.
Safe Harbor Statement Under the Private Litigation Securities Litigation Reform Act of 1995:
Certain statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words or phrases “can be,” “expects,” “may affect,” “anticipates,” “may depend,” “believes,” “estimates,” “plans,” “projects” and similar words and phrases are intended to identify such forward-looking statements. These forward-looking statements are subject to various known and unknown risks and uncertainties and the Company cautions that any forward-looking information provided by or on behalf of the Company is not a guarantee of future results, performance or achievements. Actual results could differ materially from those anticipated in these forward-looking statements due to a number of factors, some of which are beyond the Company’s control.
In addition to those risks discussed in public filings, press releases and statements by the Company’s management, factors that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied in such forward looking statements include: (i) changes in worldwide demand for chemicals, petroleum products and other cargo shipped by the Company’s customers; (ii) the cyclical nature of the shipping markets in which the Company’s Liner Services segment operates; (iii) changes in domestic and foreign economic, political, military and market conditions; (iv) the effect of, and the costs of complying with, federal, state and foreign laws and regulations; (v) the impact of recent and future acquisitions and joint ventures by the Company on its business and financial condition; (vi) fluctuations in fuel prices; (vii) the Company’s ongoing need to be timely in replacing or rebuilding certain of its tankers and barges currently used to carry petroleum products; (viii) competition for the Company’s services in the various markets in which it operates; (ix) risks affecting the Company’s ability to operate its vessels or carry out scheduled voyages, such as catastrophic marine disaster, adverse weather and sea conditions, and oil, chemical and other hazardous substance spills; (x) the effect of pending asbestos or other toxic tort related litigation and related investigations and proceedings; (xi) the state of relations between the Company and its unionized work force as well as the effects of possible strikes or other related job actions; (xii) risks associated with the construction of articulated tug-barge units; and (xiii) risks associated with the Company’s foreign operations.
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