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EGL covets logistics growth: forwarder eyes acquisition possibilities as competitors scale up contract logistics.(Logistics & Technology)
EGL Eagle Global Logistics is looking at acquisitions to take the company beyond its forwarding foundation into the contract logistics market.
"We will only buy what we do not have," said EGL CEO Jim Crane during the Houston-based freight forwarder's third-quarter conference call. For the quarter, gross revenue was up 8 percent, to $780 million, and net revenue up 8 percent, to $247 million, from the same quarter last year.
EGL would consider buying a logistics firm with sales in the neighborhood of $100 million to $500 million, as a way of boosting the company's freight handling business, Crane said.
Above all, he said, "We don't want any …
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