SOURCE: Janel World Trade, Ltd.

Janel World Trade, Ltd.

May 20, 2010 08:30 ET

Janel World Trade, Ltd. Appoints New Executive Vice President of Finance

Industry Veteran to Drive Strategy for Company Growth and Profitability

JAMAICA, NY--(Marketwire - May 20, 2010) - Janel World Trade, Ltd. (OTCBB: JLWT) announced today Phil Dubato has been appointed Executive Vice President of Finance. Most recently, Dubato served as Vice President, Chief Financial Officer and as a member of the Board of Directors for Target Logistics, Inc. (Target), a previously publicly traded global logistics company.

Mr. Dubato brings nearly 25 years senior financial management experience in the global logistics sector, including 12 years at Target, which he joined in 1996 as Vice President and Chief Financial Officer. He was instrumental in the successful acquisition and merger of an independent business unit into Target in 1997, providing the company with a quality infrastructure and business model for future expansion. The growth of Target was accomplished through acquisition, internal sales growth and the addition of agents in strategic markets where he provided the financial leadership over six acquisitions in a six year period. Target, with sales volume of approximately $180 million, was sold to an overseas company in November 2007.

Over a period of 13 years prior to joining Target, Mr. Dubato held a variety of key financial management positions with LEP Profit International, Inc. (LEP), the U.S. subsidiary of a European international freight forwarding company with sales volume of approximately $400 million. By the time of his departure from LEP, Mr. Dubato last held the position of Vice President and Chief Financial Officer - North America from 1992 to 1996.

Mr. Dubato will report directly to Janel Executive Vice President and Chief Executive Officer James Jannello with the responsibility for the company's finance, corporate controls, investor relations and strategic financing initiatives for the Company's future growth strategy and the optimization of profits.

 Mr. Jannello said, "Phil brings the financial expertise and the proven track record of growing businesses in our industry, along with the hands-on experience of a seasoned operations executive. This strong combination of having the knowledge on building companies, operational skills and financial experience will be an important addition to Janel's executive management team and will support our corporate objective of becoming a rapidly growing, highly-competitive and profitable global company."

To be included in Janel's database for Corporate Press Releases and industry updates, investors are invited to send their e-mail address to: IRInfo@janelgroup.net.

About Janel World Trade, Ltd.
Janel World Trade, Ltd. is a global provider of integrated logistics and environmental services, including domestic and international freight forwarding via multi-modal carriers, leading-edge, end-to-end, supply-chain technology, customs brokerage, warehousing and distribution, and other transportation-related services. With offices throughout the U.S. (New York, Chicago, Los Angeles, and Atlanta), the Far East (Hong Kong, Shanghai, and Shenzhen) and Central America (El Salvador, Honduras and Guatemala), the Company provides the comprehensive logistics services and technology necessary to handle its customers' shipping needs throughout the world. Cargo can be transported via air, sea or land, and Janel's national network of locations can manage the shipment and/or receipt of cargo into or out of any location in the United States. Janel is registered as an Ocean Transportation Intermediary and licensed as a FMC Licensed Freight Forwarder by the Federal Maritime Commission.

The Company also provides a comprehensive menu of global environmental remediation services through its Special Projects Division, headquartered in Champaign, IL. This Division is currently working on environmental projects in Central America, Russia and China with an award grant from the U.S. Trade Development Agency.

Janel World Trade, Ltd.'s headquarters is located in Jamaica, New York, adjacent to the JFK International Airport, and its common stock is listed on the OTC Bulletin Board under the symbol "JLWT". Additional information on the Company is available on its website at http://www.janelgroup.net

Forward-Looking Statements
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

Contact Information

  • Contact:
    Investor Relations at Janel World Trade
    (404) 261-1196
    IR_Janelgroup.net

    150-14 132nd Avenue
    Jamaica, NY 11434
    www.janelgroup.net
    Phone: (718) 527-3800
    Fax: (718) 527-1689