DANBURY, Connecticut, March 22, 2010 /PRNewswire/ -- Odyssey Logistics Technology Corporation (OLT), announced today that it has entered into a five-year logistics management outsourcing agreement with Momentive Performance Materials Inc., a global leader in silicones and advanced materials. OLT is a global logistics and transportation service provider for chemical and process industries.
OLT will manage Momentive's inbound and outbound logistics including warehousing and transportation in North America, Europe and Asia. Momentive's SAP-based enterprise resource planning system will integrate with the Odyssey Global Logistics Platform(SM) providing a single, integrated transportation management system globally. This will enable Momentive to view transportation activities -- regardless of mode or region -- through a single portal provided by Odyssey. As a result, Momentive expects to improve logistics performance while simultaneously reducing costs.
We put Odyssey Logistics Technology through a vigorous evaluation to give us an in-depth understanding of its technology capabilities and expertise in handling international challenges, said Momentive Global Supply Chain Director Bill French. OLT gave us the confidence that they could handle our business across the world, and so far they have delivered. Odyssey is one part of a multi-prong strategy to automate and globalize our business - customers want better service and information, and Momentive will continue to find ways to deliver their requests, French said.
OLT offers its clients a transportation management solution that can be deployed globally with a single platform while providing transparency to actual supply chain costs.
We are very pleased that Momentive has made the decision to entrust OLT with this global deployment, and we are well positioned to drive efficiency and process improvements, said OLT President and Chief Executive Officer Bob Shellman.
Odyssey Logistics Technology will provide Momentive with complete transportation services including carrier selection and qualification, contract negotiations, claims and non-conformance management and reporting, as well as tendering and freight audit and payment services. Further, OLT's underlying patented technology infrastructure, the Odyssey Global Logistics Platform(SM), will be seamlessly integrated into Momentive's SAP application.
About Momentive Performance Materials
Momentive is a global leader in silicones and advanced materials, with a 70-year heritage of being first to market with performance applications for major industries that support and improve everyday life. The company delivers science-based solutions, by linking custom technology platforms to opportunities for customers. Momentive Performance Materials Inc. is controlled by an affiliate of Apollo Management, L.P. Additional information is available at http://www.momentive.com.
About OLT
Odyssey Logistics Technology (OLT) and its subsidiaries deliver a comprehensive portfolio of managed logistics and third-party services to the global chemical and process manufacturing industries. The Odyssey Global Logistics Platform(SM) is OLT's technology infrastructure, and features a patented proprietary net-native transportation management system that supports the safe, reliable and efficient delivery of client products throughout the world.
With more than 30 percent average annual revenue growth for the last five years, OLT moves products with more than US$42 billion in value between 185,000 origins and destinations and 220 ports worldwide, servicing midsize to large global chemical and process industry clients. For more information, visit http://www.odysseylogistics.com.
SOURCE: Odyssey Logistics SOURCE: Technology Corporation
CONTACT: Francis Onofrio, +1-203-393-1101, Ext. 169, fonofrio@mason23.com
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