The parent of Concert Group Logistics said Wednesday the U.S. freight forwarder plans will increase its coverage by nearly a quarter in the next two years with the addition of 10 stations in domestic and international markets.
XPO Logistics, which also owns U.S. trucking operation Express-1, named Dominick Muzi president of CGL and said he will help manage the addition of 10 locations over the next two years.
“He will focus on optimizing our domestic operations, building our presence in global markets, and growing our freight forwarding footprint by 10 locations over the next two years with a mix of agent-owned and company-owned locations,” said Sean Fernandez, chief operating officer of XPO Logistics.
CGL, based outside Chicago, has seen its business stay relatively stagnant this year after expanding gross revenue more than 50 percent in 2010. The forwarder’s overall revenue was up only 1.6 percent in the first nine months of 2011 to $48.4 million, and declined 9 percent in the third quarter.
XPO acquired CGL in 2008 as part an effort to build a broad freight transportation business that includes domestic truck services provider Express-1, which operates largely through owner-operator drivers, and Bounce Logistics.
Muzi, vice president of sales at CGL since 2009, held earlier management positions at Priority Solutions International and AIT Worldwide Logistics after starting his career at Swiss forwarder Danzas.