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Foss Acquires Assets From Jore International, America Cargo Transport Will Operate Assets As Independent Subsidiary

Posted on: Wednesday, 24 January 2007, 15:01 CST

Foss Maritime Company -- a Seattle-based marine services company specializing in worldwide marine transportation and logistics (online at www.foss.com) -- announced today it is has expanded into new global markets by acquiring the marine assets of Jore International. America Cargo Transport Corp. (ACT) will operate these assets as an independent, wholly owned subsidiary of Foss.

Current ACT employees will remain with the company and continue serving the international shipper's commercial, government and military markets.

As a member of the Foss family, ACT will continue to serve existing international customers as well as new customers, delivering cargo in the Caribbean, Central America, South America, the Persian Gulf, East and West Africa regions.

The company will continue to deliver containerized U.S. Aid as well as military and commercial cargo, with an additional emphasis on transporting difficult to maneuver, high, wide and heavy cargo. In addition to delivering cargo safely to foreign ports, ACT will offer full service cargo logistics, including arranging delivery and ultimate distribution of the cargo.

"America Cargo Transport is a very logical fit for Foss, both in terms of its focus and its culture," said Gary C. Faber, Foss President & COO. "Foss is committed to safely solving our customers' toughest marine transportation and logistical challenges in some of the most extreme environments in the world, and ACT shares this commitment. The addition of their experienced employees to our team, as well as their dedication to safety and high quality service will allow us to extend and expand our operations globally in a way that will provide the highest level of service to our customers."

Joe Sanders, ACT President, said, "This acquisition will allow us to realize our full potential. Combining Foss' strong operations knowledge with our international experience will result in improved, higher levels of customer service."

This acquisition of assets by Foss follows several acquisitions in 2006. In July of 2006, Foss announced its expansion into the U.S. East Coast with the acquisition of Constellation Tug Company; and in September of 2006, the company announced it would provide marine logistics and full-service naval architecture with the acquisition of Harbor Marine Group.

Founded in 1889, Seattle-based Foss Maritime offers a complete range of maritime services and project management to customers across the Pacific Rim, Europe, South America and around the globe. The company has harbor services and transportation operations in all major U.S. West Coast ports, including the Columbia and Snake River system. With one of the largest fleets of tugs and barges on the American West Coast, Foss is Always Ready, operating two shipyards and offering worldwide marine transportation, emphasizing safety and high-quality service. See www.foss.com for more information.

Source: Business Wire

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