Unique Logistics International Adds HP Inc. As New Customer With Major Air Freight Contract
Rhea-AI Summary
Unique Logistics International (OTCMKTS: UNQL) announced a multi-million-dollar air freight contract with HP Inc., marking a significant addition to its customer base. The contract will span from June 1, 2021, to May 31, 2022, covering new cargo flight lanes between the Asia-Pacific region and the Americas, following a competitive bidding process. CEO Sunandan Ray expressed enthusiasm about the partnership, highlighting the company's growing influence in the Asia-Pacific logistics market. This development underscores Unique's robust logistics capabilities and commitment to expanding its international network.
Positive
- Signed a multi-million-dollar air freight contract with HP Inc.
- Contract duration from June 1, 2021, to May 31, 2022.
- New cargo routes between Asia-Pacific and the Americas.
- Selected through a competitive bidding process.
Negative
- None.
News Market Reaction – UNQL
On the day this news was published, UNQL gained 11.36%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, May 24, 2021 /PRNewswire/ -- Unique Logistics International, Inc. (OTCMKTS: UNQL) ("Unique" or the "Company"), a global logistics and freight forwarding company, today announced the signing of an air freight contract with HP Inc. a new customer for the Company, with a multi-million-dollar contract value in revenue over the next 12 months (based on HP Inc.'s current volume indications, subject to changes).
The agreement covers new cargo flight lanes originating throughout the Asia-Pacific region and terminating in the Americas for the period beginning June 1, 2021 through May 31, 2022, and was the result of a competitive bidding process in early 2021.
"As we continue to grow our impact in the Asia-Pacific region, we are pleased to have been selected as a trusted logistics partner by another leading U.S. technology company," said Sunandan Ray, Chief Executive Officer, "This agreement is a testament to our team's hard work, commitment, and expertise, and we look forward to building on the success of this relationship as we continue expanding our international network."
ABOUT UNIQUE LOGISTICS INTERNATIONAL, INC.
Unique Logistics International, Inc. (OTCMKTS: UNQL) through its wholly owned operating subsidiaries, is a global logistics and freight forwarding company providing a range of international logistics services that enable its customers to outsource to the Company sections of their supply chain process. The services provided are seamlessly managed by its network of trained employees and integrated information systems. We enable our customers to share data regarding their international vendors and purchase orders with us, execute the flow of goods and information under their operating instructions, provide visibility to the flow of goods from factory to distribution center or store and when required, update their inventory records.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes 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, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. While we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Unique Logistics International, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
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SOURCE Unique Logistics International, Inc.