March 22, 2001
UTi Worldwide Expands Asia-Pacific Operations with UTi Japan.
- Strategic Opening Increases Market Share Opportunities in Asia-Pacific Region -
Rancho Dominguez, California - March 22, 2001 - UTi Worldwide Inc. (Nasdaq:UTIW), a global supply chain solutions company, today announced the expansion of its global network with the opening of UTi Japan, headquartered in Tokyo. Additionally, UTi announced the appointment of Peter Nagasawa as managing director of UTi Japan.
Fully staffed with Japanese nationals, UTi Japan complements the company's existing network and reach in the Asia-Pacific region and offers the full range of UTi Worldwide's supply chain solutions and services. These include supply chain planning and optimization services, air and ocean forwarding, customs brokerage, warehousing and distribution. In addition, UTi Japan offers tailor-made solutions to individual customers, as well as industry-specific specialized solutions.
"The opening of UTi Japan underscores our company's strategic growth objective to expand operations in the Asia-Pacific region," said Alan C. Draper, UTi Worldwide's president of Asia-Pacific Region. "Based on our existing customers headquartered in Japan and anticipated new clients, we expect UTi Japan will be an important contributor to revenues in its first year of operation.
"We believe the Asia-Pacific region is one of the fastest growing areas globally, and we are now better positioned to leverage our network and geographical reach to increase our market share opportunities in this area. Establishing our own presence in Japan - one of the world's major economies - also enhances our positioning as a true global player in the industry."
Nagasawa, with more than 20 years of experience in the supply chain management field and backed by a staff of 20 professionals, has been serving UTi Worldwide since 1995 as the head of the company's representative office in Japan. Previously, he worked for BAX Global in Japan.
"We are extremely excited to be able to provide UTi's broad range of customized solutions and services directly to this very large and vibrant market,"
Nagasawa said. "Backed by the strength of UTi Worldwide's global forwarding network, UTi Japan is well positioned to serve the needs of Japan's leading multi-national corporations and its growing small business community. We offer both constituencies important tools to serve their current and emerging supply chain execution and information needs."
UTi Worldwide Inc. is a global, non-asset based supply chain management business providing supply chain logistics services and planning and optimization solutions. The company's services include freight forwarding, customs brokerage and warehousing services such as the coordination of shipping and the storage of raw materials, supplies, components and finished goods. Through its supply chain planning and optimization services, the company assists clients in designing and implementing systems that improve the predictability and visibility and reduce the overall cost of their supply chains. The company has a global and diverse business customer base ranging from large multinational enterprises to smaller local businesses. For more information about the company visit its Web site at www.go2uti.com.
Safe Harbor Statement
Certain statements in this news release may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company intends that all such statements be subject to the "safe-harbor" provisions contained in those sections. Such statements may include, but are not limited to, the company's discussion of its growth strategy and integration of acquisitions. Many important factors may cause the company's actual results to differ materially from those discussed in any such forward-looking statements, including increased competition, integration risks associated with acquisitions, general economic and market conditions and the other risks and uncertainties described in the company's filings with the Securities and Exchange Commission. Although UTi believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by UTi or any other person that UTi's objectives or plans will be achieved. The historical results achieved by the company are not necessarily indicative of its future prospects. UTi undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
|Contact:|| Alan C. Draper |
President-Asia Pacific Region
Executive Vice President and Director
UTi Worldwide Inc.
Lawrence R. Samuels
Senior Vice President, Chief Financial Officer
UTi Worldwide Inc.
+1 (310) 604-3311
+1 (310) 604-3312
Cecilia Wilkinson / Julie Crandall
+1 (310) 207-9300