USCO Logistics Re-branded as Kuehne & Nagel

Parent company integrates subsidiary to emphasize worldwide reach

Parent company integrates subsidiary to emphasize worldwide reach

Naugatuck, CT  February 18, 2004  Global logistics company Kuehne & Nagel is re-branding its wholly owned subsidiary USCO Logistics, a U.S.-based provider of integrated logistics solutions that now will take on its parent company's name.

The Kuehne & Nagel Group, headquartered in Switzerland, has 19,000 employees at 600 locations in 96 countries. It operates in the ocean, airfreight and contract logistics businesses.

The company said that the re-branding is the next step in the integration of USCO, which Kuehne & Nagel acquired in July 2001. The new Kuehne & Nagel Logistics Inc., headquartered in Naugatuck, Conn., is one of the largest warehouse-based logistics service providers in the United States, operating some 12 million square feet in 40 facilities across the country.

Kuehne & Nagel said that the re-branded USCO's service offerings complement those of its parent company, which has been established in the U.S. forwarding market since 1967, with headquarters in Jersey City, N.J., USCO's Canadian and Mexican operations already have been integrated under the Kuehne & Nagel brand.

In a statement, Kuehne & Nagel said that it can now provide customers with integrated logistics solutions from a single-source in North America and worldwide. Kuehne & Nagel asserts that its global presence, access to all modes of transport and more than 30 million square feet of distribution space can drive synergies and increased efficiencies for customers, especially those with multinational operations.

"Kuehne & Nagel is well placed to exploit opportunities in the North American contract logistics market," said Klaus Herms, president and CEO of Kuehne & Nagel International AG. "Leveraging one, strong consistent brand will further support our efforts in becoming a leading full-service provider in North America."

"The integration underscores Kuehne & Nagel's determination to bring greater value to customers doing business in the United States, Canada and Mexico by providing them with one-stop access to the most comprehensive range of logistics products and services," said Robert Auray, Jr., president and CEO of Kuehne & Nagel Logistics.