SOURCE: Fittipaldi Logistics, Inc.

September 05, 2007 10:05 ET

Fittipaldi Logistics Signs $5.5 Million Contract

BOCA RATON, FL--(Marketwire - September 5, 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, will be the dedicated transportation provider for a major corrugated box manufacturing plant in South Carolina. Commodity Express anticipates handling approximately 14,000 loads for this plant per year generating about $5.5 million in revenue. Orin Neiman, CEO of Fittipaldi Carriers, commented, "This new customer further diversifies our revenue base. We believe that the benefits of Fittipaldi's state-of-the-art technology played an important role in obtaining this contract. We will continue pursuing opportunities for growth through acquisitions and other major dedicated service contracts."

About Fittipaldi Logistics

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. In addition, through Fittipaldi Environmental Solutions, the company has adapted its technology to provide critical information enabling verification of fuel savings and reduction of harmful emissions as well as monitoring of driver performance that, when improved, can result in significant fuel savings. See

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