Odyssey Logistics & Technology posts double digit revenue and earnings growth for 2018
Odyssey Logistics & Technology Corporation (Odyssey) has announced that organic revenue increased 17 percent year-over-year in 2018, marking 15 consecutive years of continued growth. The increase was driven by strong performances across multiple business segments with exceptionally strong performance in the intermodal and trucking business segments.
“Providing a carefully-assembled and evolving portfolio of market services drove another successful year at Odyssey, further strengthening our global supply chain capabilities,” said Bob Shellman, President and CEO, Odyssey. “The fourth quarter acquisition of AFF Global Logistics was the company’s largest to date and contributed significantly to our progress by bolstering our services, creating substantial value for our clients through powerful enterprise solutions.”
During 2018, Odyssey acquired AFF Global Logistics, a recognised leader in logistics services to Hawaii, Alaska, PR, freight forwarding, and comprehensive North American warehousing and distribution services. The $465m acquisition has been combined with existing business units and a new Multimodal Global Solutions Division was formed.
Additionally, the company opened a new engineering technology centre near Houston in January 2018. The centre enables Odyssey engineers to design, fabricate and prototype commercial applications of safe, cost-effective and sustainable transportation solutions. Several of these patented and patent-pending innovations will provide new methods of intermodal transportation and facilitate the movement of bulk liquid commodities.
“Investing in the future of our business helps us to continue to enhance and streamline operations, drive profitability and position Odyssey to meet the increasing demands of our customers,” said Cosmo Alberico, Chief Operating Officer and CFO, Odyssey. “Fifteen years of positive year-over-year growth is testament to Odyssey’s commitment to evolving our services enabling us to stay ahead of a dynamic industry and meet the growing needs of our customers.”
27th February 2019