Horizon Logistics News

Horizon Lines, Inc. (NYSE: HRZ) announced that it is eliminating all perquisites for its four named executive officers, effective at the end of the year. The Compensation Committee of the Board of Directors approved the decision after a comprehensive review in conjunction with a company-wide effort to eliminate perquisites at all levels of the organization as part of a broader, ongoing cost-reduction initiative. "We believe the perquisite elimination for executive officers is consistent with emerging best practices in corporate governance," said Chuck Raymond, Chairman, President and Chief Executive Officer. The eliminated perquisites include…

Engineering students from 12 universities around the country will began competing in Hawaii in the conference finals of the American Society of Civil Engineers' 22nd Annual ASCE National Concrete Canoe Competition. The winner of these races will earn a spot in the national championships in North Carolina this June. Before the concrete canoes could begin their sail to the finish line, however, they had to get to the starting line. Working together, Horizon Lines, LLC, and Horizon Logistics, LLC, coordinated the door-to-door delivery of the competition canoes from inland points in the continental United States to the Port of Los Angeles for ocean voyage aboard a Horizon Lines container vessel to Honolulu and on to final destination at the University of Hawaii.

Horizon Logistics, LLC, has launched an international ocean shipping service to offer supply chain solutions to U.S. importers and exporters. Horizon Logistics has been licensed by the U.S. Federal Maritime Commission (FMC) to operate as a non-vessel operating common carrier (NVOCC). As an NVOCC, Horizon Logistics is able to issue its own bills of lading and public tariffs, utilizing the service of vessel operating partners. The first shipments moving under this new service were loaded during the week of Jan. "Our entrance into the international ocean shipping arena is actually a re-entrance," said Brian Taylor, President of Horizon Logistics.

Horizon Lines, Inc. (NYSE: HRZ) announced a non-union workforce restructuring initiative targeted at reducing annualized labor-related costs by an estimated $7m to $10m. The company intends to reduce its workforce by at least 10%, or approximately 70 of its 700-plus non-union employees. Initially, the company will offer a voluntary severance program to certain eligible non-union employees. If the company is unable to achieve anticipated reductions from the voluntary program, it intends to implement an involuntary severance program for non-union employees. The company expects to complete the workforce reduction initiative by January 31, 2009, and it is expected to result in a fourth-quarter 2008 charge of approximately $3.5m to $5m pretax, or $0.11 to $0.16 per fully diluted share.

Horizon Lines, Inc. 2008. Internet, beginning at 11:00 a.m., Eastern Time, that day. during the quarter. call: Charles G. John V. Keenan, President, Horizon Lines, LLC, Brian W. Horizon Logistics, LLC, M. Financial Officer, and John W. Handy, Executive Vice President.

logistics provider (3PL) headquartered in South San Francisco, CA. of the acquisition were not disclosed. high-tech, healthcare, energy, mining, retail and apparel. Transportation division. Horizon Lines, Inc. business. shipping services between the U.S. Puerto Rico.

Charles G. Raymond, Chairman, President and Chief Executive Officer of Horizon Lines, Inc. said several organization changes, key executive promotions and a realignment of senior management responsibilities. Effective September 1, 2007, Horizon Lines, Inc. is structuring its transportation and logistics operations under two wholly owned subsidiaries, Horizon Lines, LLC, and Horizon Logistics, LLC. Horizon Lines, LLC will continue as the nation's leading Jones Act container shipping company, with a fleet of 21 U.S.-flag vessels and service routes linking the continental United States with Alaska, Hawaii, Guam, Micronesia and Puerto Rico.