The Cronos Group Announces the Appointment of Exclusive Agent for Russia, CIS and the Baltic States
16 Mars 2006 - 8:45PM
Business Wire
The Cronos Group (Nasdaq:CRNS) is pleased to announce the
appointment of John Keir as its exclusive agent for Russia, the
Commonwealth of Independent States and the Baltic states. Mr. Keir
brings to Cronos over 20 years of experience in this region,
previously representing Sea Containers and GE SeaCo since 1986. The
appointment of Mr. Keir will facilitate the company's expansion
into emerging markets, strengthen its presence in the region, and
enable Cronos to capitalize on expanding business opportunities
with a more diversified customer base. Mr. Keir and other
representatives from Cronos will be present at next week's
TransRussia Exhibition and Conference, which will be held in Moscow
from March 20 through March 23, 2006. The Exhibition is the leading
forum for shipping line and freight transportation companies in the
region. This will be the first time that Cronos has participated in
the TransRussia Exhibition and Conference, and its exhibit will be
located at Stand C16. Peter J. Younger, President and Chief
Operating Officer of The Cronos Group, said, "We are extremely
pleased to announce our new relationship with John Keir who brings
years of experience and expertise to our company with respect to
Russia and the surrounding areas. John's new association with the
company, combined with our presence at next week's TransRussia
Exhibition, signals our intention to become a leading force in this
region. We are very pleased that John has partnered with Cronos,
and we look forward to working with him and our new customers in
this region for years to come." Cronos is one of the world's
leading lessors of intermodal containers, owning and managing a
fleet of over 446,000 TEU (twenty-foot equivalent units). The
diversified Cronos fleet of dry cargo, refrigerated and other
specialized containers is leased to a customer base of over 450
ocean carriers and transport operators around the world. Cronos
provides container-leasing services through an integrated network
of offices using state-of-the-art information technology. This
release discusses certain forward-looking matters that involve
risks and uncertainties that could cause actual results to vary
materially from estimates. Risks and uncertainties include, among
other things, changes in international operations, exchange rate
risks, changes in market conditions for the Company's container
lease operations and the Company's ability to provide innovative
and cost-effective solutions. For further discussion of the risk
factors attendant to an investment in the Company's Common shares,
see the Business section in Part I of the Company's Annual Report
on Form 10-K for the year ended December 31, 2004, which was filed
with the SEC on March 22, 2005. This press release and other
information concerning Cronos can be viewed on Cronos' website at
www.cronos.com
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