Global logistics: Crowley acquires Puerto Rico Freight Systems
July 05, 2011
Crowley Maritime Corporation, a provider of ocean cargo transportation services, recently announced it has acquired the business and assets of Puerto Rico Freight Systems (PRFS), a provider of freight consolidation and less-than-container load (LCL) transportation services in the Caribbean.
Financial terms were not disclosed.
Crowley officials said that PRFS will be integrated into Crowley Caribbean Logistics LLC, a wholly owned subsidiary of Crowley. PRFS, according to Crowley, has 46 employees, and the company coordinates shipments from Europe, Central, and South America, Asia, and the U.S. to Puerto Rico and more than 19 locations throughout the Caribbean basin.
Types of services provided by PRFS include pick-up service throughout Puerto Rico for LCL and full container load (FCL) shipments and one-carrier responsibility for all Caribbean destinations, said Crowley, among other services. PRFS also serves as a Non-Vessel Operating Cargo Carrier and freight consolidator in Puerto Rico. PRFS was founded in 1985.
This acquisition is part of Crowley’s Caribbean strategy by encompassing its current Puerto Rico operations and blend them in with additional capabilities from the island as well as from the U.S.,” a Crowley spokesman told LM, adding that it provides customers with an additional dimension and a new offering to its current suite of services.”
Crowley officials also said that this deal will benefit Puerto Rico-based manufacturers looking to export goods and Caribbean-based customers looking for Puerto Rico suppliers, along with offering them more access to competitive sources.
“This acquisition positions Crowley above and beyond the current capability of any competitor in Puerto Rico,” the Crowley spokesman said. “Crowley has the capability to provide Liner services, LTL cargo consolidations, warehouse distribution services, Trucking, Cargo clearances, Airfreight, South bound FCL and LTL cargo to the Eastern Caribbean and South America, NB LTL cargo consolidations from Puerto Rico to the U.S. No other competitor can offer these same services under one company name.”
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