CSX Launches CSX World Terminals

RICHMOND, Va. (PROTEXT) - CSX Corporation today unveiled CSX World Terminals as the new name for its terminal company. Headquartered in Charlotte, N.C., CSX World Terminals operates terminals and related businesses in Hong Kong, China, Australia, Germany, Netherlands, Finland, Russia, Dominican Republic, Puerto Rico and the United States. (Photo: http://www.newscom.com/cgi-bin/prnh/19991215/CHW028 ) The terminal company was created in March 1999 when Sea-Land Service, Inc. reorganized into three separate businesses. Its array of products and services includes terminal management and services, terminal consulting, warehouse and depot management, equipment maintenance, and terminal systems. "Strong growth in the international container business and unmet demand for new terminals make this an especially exciting time to launch this new terminal company," said John W. Snow, chairman and chief executive officer of CSX Corporation. "CSX World Terminals operates a network of profitable and efficient container terminals throughout the world, making it a leader in the industry," he added. Last week, CSX Corporation announced the closing of the sale of the Sea-Land Service international liner business to Maersk Line, a leading Danish container-shipping company. CSX retains two former Sea-Land Service businesses: CSX World Terminals, and CSX Lines, a domestic container-shipping company. Annual revenues for the two companies total approximately $1 billion. Building upon its Sea-Land heritage of innovation and excellence in worldwide transportation, CSX World Terminals will focus on delivering customized solutions to terminal operations. Robert J. Grassi, president and chief executive officer of CSX World Terminals, commented, "As part of Sea- Land, we developed a reputation for running extremely productive terminals. Now, as CSX World Terminals, we will totally dedicate our expertise in process engineering and proprietary technology to provide even better results to our customers." "We are fortunate to be bringing the dedication and skills of experienced terminal operators to CSX World Terminals," Grassi added. "Each member of our senior group brings more than 20 years of in-depth knowledge of the industry to our company. While the name CSX World Terminals is new, the company is stacked with experience and intellectual capital." The management team reporting to Grassi includes: Ronald Sforza, vice president and chief financial officer; Geret DePiper, vice president and chief commercial officer; Arno H.F. Dimmling, vice president and chief operating officer; Christopher L. Koch, general counsel, and William V. McHugh, vice president, Sea-Land Orient domiciled in Hong Kong. The name CSX World Terminals was chosen because it reflects both the global nature of the company's business and the broad scope of services it brings to terminal management. The company's new logo is a distinct set of dark blue boxes aligned to form a bold W. "The company logo is designed to represent uncompromising precision and a confidence derived from knowledge, experience and expertise," said Grassi. CSX World Terminals is a leading provider of terminal solutions and operates 14 global businesses. CSX Corporation, based in Richmond, Va., operates the largest rail network in the eastern United States and also provides container shipping, intermodal and contract logistics services. CSX WORLD TERMINALS FACT SHEET Headquarters: Charlotte, North Carolina, USA Executives: Robert J. Grassi, President and Chief Executive Officer Ronald Sforza, Vice President and Chief Financial Officer Geret DePiper, Vice President and Chief Commercial Officer Arno H.F. Dimmling, Vice President and Chief Operating Officer William V. McHugh, Vice President, Sea-Land Orient Employees: 1675 Products/Services: Terminal management, terminal services, warehousing, equipment maintenance, bulk services, consulting, terminal systems, depot management, barge services, transportation distribution Businesses: Sea-Land Orient Terminals, LTD Hong Kong Asia Terminals Limited Hong Kong Hong Kong Orient Trucking, LTD Hong Kong Shanghai Orient International Container Transportation Co., LTD Shanghai, PRC Sea-Land Orient (Tianjin) Container Terminals Co., LTD Tianjin, PRC Sea-Land Orient Terminals (China), LTD Xiamen, PRC Sea-Land Australia Terminals Adelaide, Australia Sea-Land (Australia) Terminal Services Brisbane, Australia Hamina Multimodal Terminals, KY Hamina, Finland Container Terminal Germersheim Germersheim, Germany Rio Haina Terminal Haina, Dominican Republic Vostochny International Container Vostochny, Services Russia World Crane Services United States Aggregate Annual Revenue: $405 million Ownership: CSX World Terminals is a wholly owned subsidiary of CSX Corporation, which also owns and operates the largest railroad system in the eastern United States and provides container-shipping, intermodal and contract logistics services. CSX generated $9.9 billion in revenue and $537 million in earnings in 1998. ots Original Text Service: CSX World Terminals Internet: http://www.newsaktuell.de Contact: Kelly A. McKain of CSX World Terminals, 704-571-2491 Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/19991215/CHW028 PRN Photo Desk, 888-776-6555 or 201-369-3467 Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT