ABF Freight System Inc. on Monday announced it had opened offices in Indonesia, Japan, Singapore, South Korea, Malaysia, Vietnam, Thailand, Cambodia, Myanmar, the Philippines, India and Sri Lanka.
The locations are in addition to ABF offices in China, Hong Kong and Taiwan, ABF said in a news release. ABF is the largest subsidiary of transport company Arkansas Best Corp. of Fort Smith (Nasdaq: %%ABFS%%)
ABF said the offices were opened to provide "seamless, single-contact supply chain solutions for customers importing from Asian manufacturing centers."
"ABF's expanding portfolio of logistics services now extends from the Asian manufacturer's floor to domestic door delivery. In between, customers benefit from a single point of contact and total end-to-end supply chain visibility," Roy Slagle, ABF senior vice president of sales and marketing, said in the release.
In August, Arkansas Best announced second-quarter 2011 net income of $5.3 million, or 20 cents per share, compared with a net loss of $7.4 million, or 30 cents per share, in the second quarter of 2010.
The company credited its return to profitability to healthy tonnage levels and improved pricing.
Arkansas Best reported revenue of $498.6 million, a per-day increase of 21.2 percent, compared with revenue of $411.3 million during the second quarter of 2010.
For the second quarter of 2011, ABF reported operating income of $8.2 million compared with an operating loss of $12.6 million in second-quarter 2010. ABF's second-quarter 2011 revenue was $458.5 million compared with $379.4 million in second-quarter 2010, a per-day increase of 20.8 percent.
