U-Ship, Inc. Forms Advanced Courier Services, Inc. and Plans First Acquisition
MINNEAPOLIS--(BUSINESS WIRE)--Sept. 17, 1998--Peter Lytle,
Chairman and CEO of U-Ship, Inc. (Nasdaq: USHP - news) announced that
U-Ship, Inc. has formed Advanced Courier Services, Inc. as a
subsidiary company to serve as a platform for future courier
U-Ship has also signed a letter of intent to acquire Jel
Trucking, a Twin Cities courier and dock truck service. According to
Lytle, adding courier services is key to repositioning the company's
self-service, UPS priority letter and package shipping kiosks and
building a time-sensitive package movement network.
``By vertically integrating pick-up from our kiosks and delivery
to major carriers, we will now offer a 24-hour shipping service,''
said Lytle. ``Our plan is to first build a model of Automated
Shipping Centers serviced by Advanced Courier Services in the
Minneapolis and St. Paul metro area, and then to create a national
roll-up of courier services across the country.''
In order to build a system with improved cost efficiencies and to
market and advertise effectively, U-Ship will implement the following
-- Up to 200 retrofitted mailing/shipping kiosks will be re-deployed
into the Minneapolis/St. Paul market and are planned to be operational
by late October, and as many as 500 kiosks will be installed in the
next twelve months. U-Ship will pull low-performing units from retail
locations beginning immediately.
-- U-Ship's advanced technology, which now allows automated
self-service shipping with touch-screen data entry, will be designed
to incorporate expanded shipping choices, including courier options.
-- Additional courier acquisitions, expected to be finalized this
year, will support the growing network, as well as facilitate local
-- New technology will link drivers and kiosks for mid-point
pick-ups and create a new standard for operational efficiencies.
In May, l998, Lytle, principal of the Business Development Group,
and his management team joined U-Ship after evaluating U-Ship's
technology and market options. Significant investments have been
made in repositioning U-Ship's business segments over the last
quarter. These include creating an OEM (original equipment
manufacturing) subsidiary (IQ K) to market the company's
state-of-the-art intelligent kiosk systems.
The market leadership in courier services via Advanced Courier
Services, along with the company's proprietary technology, are
expected to generate growth and increased revenues.
For the past nine years, U-Ship's core business has been the
development, manufacture and operation of automated shipping centers
for shipping packages and letters through high-tech, user-interactive
kiosks. The company has also produced and marketed computerized
kiosks for other businesses, such as electronic advertising.
Some of the information in this release is forward-looking and
subject to certain risks as described in the company's filings with
the Securities and Exchange Commission, including the company's Form
10-K for fiscal year ended June 30, l997.
Chairman and CEO
612/941-4080, Extension 113
Knight Public Relations
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Thanks Tim and Anna!