SHANGHAI, China, March 5, 2014 /PRNewswire/ --
China Logistics Group, Inc. (OTCQB: CHLO), an international
freight forwarder and logistics management company, announced today
that the company sees opportunity for expansion through potential
acquisition or merger in fiscal 2014.
For the past several years the logistics and freight forwarding
industry in China has suffered
from a sustained weakness in global demand largely due to a
prolonged recession in the European Union and a significant
slowdown in China's domestic
economy. During this time China Logistics Group began
several initiatives for growth including diversifying its client
base through expansion into new markets and broadening the scope of
its services with the addition of limited domestic trucking
services.
While China Logistics Group believes its growth initiatives
coupled with economic improvements in certain key markets will
place the Company on a sustainable growth track, it also sees the
potential to further accelerate that growth through strategic
acquisition to reach greater economies of scale. As a result
management has begun to evaluate several potential acquisition
opportunities and is in early stage due diligence with at least one
potential acquisition candidate. The Company intends to
aggressively pursue these opportunities and is hopeful that at
least one strategic acquisition will take place in the current
fiscal year.
Danny Chen, Chairman and CEO of
China Logistics Group, commented, "We believe the logistics market
will gradually recover as the world economy improves making this
the perfect time to look for new opportunities to give us an
advantage in this competitive market. We believe that the right
strategic acquisition or merger will substantially accelerate
growth in our business and set the stage for rapid expansion should
markets improve substantially in the coming years."
About China Logistics Group, Inc.
China Logistics Group, Inc. is a U.S. company doing business in
China through its subsidiary
Shandong Jiajia International Freight & Forwarding Co., Ltd.
(Shandong Jiajia). Established in 1999; Shandong Jiajia is an
international freight forwarder and logistics manager located in
China. Shandong Jiajia acts as an
agent for international freight and shipping companies. It sells
cargo space and arranges land, maritime, and air international
transportation for clients seeking primarily to export goods from
China. For more information please
visit http://www.chinalogisticsinc.com.
Safe Harbor Statement
China Logistics Group, Inc. is hereby providing cautionary
statements identifying important factors that could cause our
actual results to differ materially from those projected in
forward-looking statements (as defined in such act). Any statements
that are not historical facts and that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
indicated through the use of words or phrases such as "will likely
result," "are expected to," "will continue," "is anticipated,"
"estimated," "intends," "plans," "believes" and "projects") may be
forward-looking and may involve estimates and uncertainties which
could cause actual results to differ materially from those
expressed in the forward-looking statements. These statements
include, but are not limited to, our guidance and expectations
regarding our South American shipping volumes and economic
expansion in South America and
other risk factors impacting our company, some of which may be
beyond our control. We caution that the factors described
herein could cause actual results to differ materially from those
expressed in any forward-looking statements we make and that
investors should not place undue reliance on any such
forward-looking statements. Further, any forward-looking statement
speaks only as of the date on which such statement is made, and we
undertake no obligation to update any forward-looking statement to
reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of anticipated or
unanticipated events or circumstances. New factors emerge from time
to time, and it is not possible for us to predict all of such
factors. Further, we cannot assess the impact of each such factor
on our results of operations or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
This press release is qualified in its entirety by the cautionary
statements and risk factor disclosure contained in our Securities
and Exchange Commission filings, including our Annual Report on
Form 10-K for the fiscal year ended December
31, 2012.
Contact:
Richard Galterio
U.S. Representative
Telephone: +1(954)363-7333
Email: info@chinalogisticsinc.com
SOURCE China Logistics Group, Inc.