LONDON, UNITED KINGDOM--(Marketwire -08/15/11)- PTS, Inc. (PINK SHEETS: PTSH) (www.ptspi.com) is pleased to announce that the merger negotiations between PTSH and Navistar Logistics (UK) Ltd. (http://www.navistar.co.uk/) are progressing rapidly, on schedule as previously announced.
Following the PTSH and Navistar news regarding the upcoming merger http://www.minamargroup.net/support/index.php?_m=news&_a=viewnews&newsid=820, Navistar management started receiving enquiries from around the world regarding the merger event. Due to the International business and agency network Navistar currently enjoys, there appears to be a strong following interest from Navistar's global contacts. By all accounts, in the company's opinion this could benefit both PTSH and Navistar shareholders alike. To that end, PTS, Inc. incoming CEO John O'Brien is pleased to deliver the following address about PTSH and Navistar's future, immediate and long term plans.
Mr. O'Brien said, "We consider ourselves 'doers' rather than 'talkers', we continually improve processes to help our clients, that's how Navistar became the large enterprise it is today in a fairly short time. We take no-nonsense position with all of Navistar business, and that's why we press on to finalize the merger and deliver results to PTSH shareholders as soon as possible.
"Again, as it's worth repeating, we expect to close the merger within next few weeks, aiming at 10 working days. Following the merger, (as PTSH used to be a reporting issuer) we want to use this advantage, and become a reporting issuer one again. Our plans are to elevate PTSH back to OTCBB quotation system or higher. This is a long-term plan, and should be finalized within 3 to 9 months. We have good, strong revenue and asset based operating subsidiary in Navistar. Our search for a PCBOA auditor is well under way.
http://en.wikipedia.org/wiki/Public_Company_Accounting_Oversight_Board.
While we can appreciate and understand the frustrations PTSH shareholders have endured with delays with PTSH merger, the discussions between PTSH and Navistar have gone on for months and at this point we are just finalizing the logistics and fine tuning details so that we may resume continuing serving our followers and customers with top notch service they have come to expect with Navistar.
As we have many strong ongoing business negotiations, we are looking forward to updating public about all our achievements as part of PTS, Inc. on a timely basis. Our revenues, in excess of $10 million USD and accolades are of "reporting value" and we are hopeful that this will all translate into a higher share price valuation for PTSH. Recently, PTSH corporate web site www.ptspi.com has been updated with Navistar information. Additional information about Navistar, its management and operations can be found by visiting http://www.businessrevieweurope.eu/magazines/3325.
Lastly, PTSH and Navistar is in a process of setting up an IR department to handle these matters.
I, or our management will provide more details shortly."
About Navistar Logistics:
Navistar Logistics (UK) Ltd is an international logistics freight forwarding company with high quality warehousing in London, Birmingham, West Bromwich, Manchester, Newcastle and at all ports and airports. Navistar specializes in air freight, sea freight and road haulage, transfer customs clearance, storage and fulfillment. Navistar can collect and deliver door-to-door, anywhere in the world.
Navistar has extensive partnership throughout North America and a worldwide network of international approved agents. Navistar has been established in the UK for over 10 years with a wealth of experience and knowledge in all logistics disciplines, and are members of the British International Freight Association (BIFA), RHA and the Chamber of Commerce.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of PTS, Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. PTS, Inc. cautions you that any forward-looking information provided by or on behalf of PTS, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. PTS, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond PTS, Inc.'s control. In addition to those discussed in PTS, Inc.'s press releases, public filings, and statements by PTS, Inc.'s management, including, but not limited to, PTS, Inc.'s estimate of the sufficiency of its existing capital resources, PTS, Inc.'s ability to raise additional capital to fund future operations, PTS, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match PTS, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. PTS, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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