SOURCE: Fittipaldi Logistics, Inc.

March 30, 2007 09:24 ET

Fittipaldi Logistics Renews Business With Major Customer

Expected to Generate $25 Million in Sales

BOCA RATON, FL -- (MARKET WIRE) -- March 30, 2007 -- Fittipaldi Logistics, Inc. (OTCBB: FPLD), the market leader in software development focusing on the freight transportation industry, announced that Commodity Express Transportation, a wholly owned subsidiary of Fittipaldi Carriers, Inc., the Company's trucking arm, would continue to provide transportation services for Amcor PET Packaging manufacturing plants for an additional two years through March 2009.

Orin Neiman, CEO of Fittipaldi Carriers, said, "Based upon our historical revenue run rate with Amcor, we estimate that revenue generated from providing transportation services for Amcor during the next two years will be approximately $25 million. We view this renewal of service with Amcor as the ultimate expression of their satisfaction with our performance."

About Fittipaldi Logistics, Inc.

Fittipaldi Logistics, Inc. is a technology company specializing in providing pertinent, real-time information to the worldwide transportation and security industries. Our telematics solutions collect vehicle and container-based data and integrate it with information gathered from various disparate legacy systems across the supply chain. The data is then synthesized and reformatted into valuable, actionable information, and delivered to appropriate end-users across the logistics value chain through secure web-based applications. Specific offerings include: vehicle tracking, inventory/asset visibility, secure trucking, matching available freight with available trucks, and many others. Additionally, Fittipaldi Logistics, through Fittipaldi Carriers, is an expanding freight transportation operation currently serving the southeastern United States.

About Amcor

Amcor PET Packaging is the leading manufacturer of PET (polyethylene terephthalate) plastic packaging for the global beverage, food and non-food industries, with over 80 manufacturing sites in 19 countries. Its parent company, Amcor Limited, offers a broad range of packaging solutions and ranks as one of the top three packaging companies in the world. Amcor's extensive operations include 217 plants in 34 countries. It is headquartered in Melbourne, Australia and, for the fiscal year ending June 30, 2006, had sales revenues of US$8.8 billion. For further information, visit www.amcor.com.

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Annual Report on form 10-KSB filed on October 13, 2006 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

Contact Information

  • Fittipaldi Logistics Contact Information:
    Fittipaldi Logistics' Corporate Investor Relations
    (866) 998-7557 x 301
    email: ir@emmologic.com