Performance Fibers Outsources Transportation and Logistics

Selects logistics provider Odyssey to quickly transition transportation services

Selects logistics provider Odyssey to quickly transition transportation services

Danbury, CN — February 7, 2006 — Performance Fibers Inc., a supplier of high-tenacity polyester and a global manufacturer of other man-made industrial fibers and fabrics, said today it has signed a multi-year outsourcing contract and completed the transfer of its outbound North American logistics needs to Odyssey Logistics & Technology Corp.

Recently spun off from its parent company Honeywell International, Performance Fibers found itself in immediate need of a full suite of global logistics services. Performance Fibers sought a service provider to manage its requirements in all transportation modes including truck and ocean.

Odyssey will also provide international freight forwarding and manage the Customs House Broker services required to meet customer needs. Odyssey was selected because of its "one-stop shop" capabilities combined with proprietary technology that will be deployed in support of the global business.

"Odyssey demonstrated deep industry experience and completed a quick turnaround from the start of our relationship," said Karen Lowman, Transportation & Logistics manager for Performance Fibers. "From day one, Odyssey's actions confirmed they could not only handle our business, but also had the know-how and agility to make critical changes in record time. Having one single point of contact for all shipments and logistics needs gives us the confidence we need to focus on our core competencies."

Odyssey manages all aspects of the supply chain with a full suite of transportation services from ocean to over the road. Through its integrated transportation management system and global network of service providers, Odyssey performs cargo planning, tendering, shipment visibility and configurable event management, freight audit, and payment and management reporting.

Performance Fibers plans to complete a transition to full data interchange by the end of the first quarter of 2006.

"Transportation and logistics management are fundamental components of Performance Fibers' business success," said Robert Shellman, CEO for Odyssey. "We are very proud that Performance Fibers has put its trust in Odyssey."

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