UNION-TRANSPORT SEES 36-PERCENT JUMP IN EARNINGS

UNION-TRANSPORT SEES 36-PERCENT JUMP IN EARNINGS

   Union-Transport, the big air and ocean freight forwarder, customs broker
and logistics company, reported earnings of $16 million on revenues of
$471.1 million for the fiscal year ending Jan. 31.
   Earnings were up 36 percent from the previous fiscal year, while revenue
was up 8 percent over the year-earlier period.
   Union-Transport’s shareholder equity grew 69 percent as the company
issued 19.5 million common shares last year, in order to fund acquisitions.
   The company made a dozen purchases and acquisitions in its last fiscal
year: Per Transport in Italy; Gerlach Art Packers and Shippers and the
Furness Transport ocean freight business in the Netherlands; Nord Express
in Belgium; Megatrans International Inc., G.M. Miller & Co. International
and H.Z. Bernstein Co. in the U.S.; Kenney Transport Ltd. in Korea; Memfy
Holdings and Cargo Masters in New Zealand; and Fast Lane and Harper
Shipping in South Africa.