'We continue to be very optimistic about progress from EPD' – Janel
Janel World Trade, Ltd. (JLWT), a full-service global provider of
integrated transportation, logistics and environmental services,
commented on plans to deal with the business environment for the remainder of fiscal year 2009, ending September 30, 2009, combined with prospects for the first two quarters of 2010.
Retail sales in May increased by 0.5% over April following four straight drops, according to a Commerce Department report released last week. Economists were only anticipating a 0.2% gain, according to The Associated Press.
“With this news, we believe the recession-related drop-off has mostly stabilized; our volumes of shipments have been increasing since May except for August which traditionally is our biggest vacation month; our customers will continue replenishing inventories for the Holiday season,” said James N. Jannello, the Company's Executive Vice President and Chief Executive Officer.
“Clothing and textile products are a major consumable item during the Holiday season and because many of our customers will be ordering later in the season to keep their inventories minimized, we see a shift in some clothing and textile shipments that normally come from Asia shifting to Central America due to shorter transit times and duty free CAFTA arrangements. We see this trend continuing throughout the year,” continued Jannello.
“Janel has become a key service provider in Central America, particularly in clothing and textiles and we see a continuation in that business activity to meet the flexibility and just in time market demands.”
"We continue to be very optimistic about progress from our Environmental Projects Division (EPD). We have successfully completed our product testing in China with results that exceeded
everyone's expectations including the Chinese,” said Paul McCreary, President of Janel's EPD Division. “We have received letters of sponsorship from two government agencies in China, letters from our Congressional delegation in New York and letters
from two U.S. Senators supporting Janel's initiative in China.”
“China is the largest environmental marketplace in the world and the opportunity for Janel and other U.S. companies is huge,” said
McCreary. China has allocated $14.8 Billion for the cleanup of Lake Tai.”
“The World Bank project we are presently involved with in Wuxi will run close to $300 Million when fully funded,” Mr. Jannello stated, “The financial numbers in these projects speak for themselves.” “We have come a long way with our EPD Division in the last year and it appears we are very close to being awarded a pilot project in Meiliang Bay near Wuxi, and with the governmental support we have received will establish Janel as a leader for U.S. companies to capitalize on this very significant Chinese environmental marketplace.” “The financial impact for our company will be positive and very significant early in fiscal year 2010,” continued Jannello.
“While we willcontinue to aggressively manage our costs, the top line opportunities both in our core business and our EPD Division
are very exciting and lead us to be upbeat for the remainder of this year and very optimistic about fiscal year 2010,” said Mr. Jannello.
Janel World Trade Ltd