Foss Acquires American Cargo Transport

Wednesday, January 24, 2007

Foss Maritime Company has expanded into new global markets by acquiring the marine assets of Jore International. America Cargo Transport Corp. (ACT) will operate these assets as an independent, wholly owned subsidiary of Foss. Current ACT employees will remain with the company and continue serving the international shipper’s commercial, government and military markets. As a member of the Foss family, ACT will continue to serve existing international customers as well as new customers, delivering cargo in the Caribbean, Central America, South America, the Persian Gulf, East and West Africa regions. The company will continue to deliver containerized U.S. Aid as well as military and commercial cargo, with an additional emphasis on transporting difficult to maneuver, high, wide and heavy cargo. In addition to delivering cargo safely to foreign ports, ACT will offer full service cargo logistics, including arranging delivery and ultimate distribution of the cargo. This acquisition of assets by Foss follows several acquisitions in 2006. In July of 2006, Foss announced its expansion into the U.S. East Coast with the acquisition of Constellation Tug Company; and in September of 2006, the company announced it would provide marine logistics and full-service naval architecture with the acquisition of Harbor Marine Group.