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McapMediaWire --Mogul Energy International, Inc. (OTC: MGUY ) a companyspecializing in transportation, logistics, warehouse consolidation,and distribution services for perishable and other time andtemperature sensitive types of cargo today is providing a corporateupdate and guidance for calendar year 2023.
“First off, we wantto say a happy belated Valentine’s Day to everyone’s loved onesout there,” stated, Ronen Koubi, CEO of MGUY. According to USA Todayand Forbes Magazine, Valentine's Day spending was expected to hit$26 billion in 2023. “Flowers are a substantial part of our businessas we store and distribute them. We offer refrigerated long haul,regional, and dedicated deliveries for industries that include floral,produce, plants, dairy, poultry, and meats, as well as dry high valuecommodities.”
On December 16, 2022, MGUY announced the acquisition of the“Flora” group of companies consisting of Florida Beauty Flora,Inc, Florida Beauty Express, Inc, Floral Logistics of California, Inc.and Tempest Transportation, Inc. This was the first acquisition inline with the company’s new business model and strategy to grow aportfolio of businesses focused on the transportation, logistics,warehouse consolidation and distribution segments for perishable andother time and temperature sensitive types of cargo.
According to marketresearch from Technavio, “The Perishable Goods Transportation Marketis estimated to grow by USD 6.43 billion from 2021 to 2026, and themarket's growth is anticipated to accelerate at a CAGR of 7.22%during the forecast period.” Factors such as rising demand forprocessed foods and the adoption of eco-friendly vehicles aresignificantly driving the Perishable Goods TransportationMarket.
Koubicontinued, “MGUY’s strategic acquisition growth program will helpsecure Flora’s position as a leader in the refrigerated transportand logistics’ industry throughout the United States. The ability totransport and warehouse products throughout the continent will furtherenhance Flora’s ability to facilitate customer orders from origin tofinal destination and solidify its status as an industry leader.
“In 2023 we expect tocontinue to strengthen our balance sheet. We will also be refining andstreamlining our operations, leading to increased profitability, aswell as seeking additional acquisitions expanding our customer basethroughout the United States to meet the growing shipping, logisticsand warehousing demands in the industry.”
MGUY has a revenuetarget of $185 million by 2025; bringing significant value to itsshareholders while maintaining a proportionate EBITDA growth.
“We are extremelyexcited about the future growth of Flora and what future acquisitionscould deliver to our shareholders and bottom line,” Koubisaid.
Throughout2023, MGUY will be securing financing for growth, continue buildingrelationships within the industry and building our reputation as thegold standard in shipping. The logistics, warehousing and distributioninfrastructure industry within the US is positioned for enormousgrowth. Covid exposed the weaknesses within the logistics sector anddemonstrated how fragmentation creates vulnerabilities. MGUY plans onusing the data collected from the COVID epidemic to help secure thefuture of Flora product shipments throughout the United States.
About: Mogul EnergyInternational, Inc.
Mogul Energy International, Inc., through its subsidiaries,provides transportation, logistics, and warehouse consolidation anddistribution services for perishable and other time and temperaturesensitive type of cargo. It offers refrigerated long haul, regional,and dedicated deliveries for industries that include floral, produce,plants, dairy, poultry, and meats, as well as dry high valuecommodities.
Safe HarborStatement
Thisrelease contains forward-looking statements within the meaning ofSection 27A of the Securities Act of 1933 and Section 21E of theSecurities Act of 1934 that are based upon current expectations orbeliefs, as well as a number of assumptions about future events.Although we believe that the expectations and assumptions upon whichthey are based are reasonable, we can give no assurance that suchexpectations and assumptions will prove to have been correct. Some ofthese uncertainties include, without limitation, the company'sability to perform under existing contracts or to procure futurecontracts. The reader is cautioned not to put undue reliance on theseforward-looking statements, as these statements are subject tonumerous factors and uncertainties, including without limitation,successful implementation of our business strategy and competition,any of which may cause actual results to differ materially from thosedescribed in the statements. We undertake no obligation and do notintend to update, revise or otherwise publicly release any revisionsto these forward-looking statements to reflect events or circumstancesafter the date hereof or to reflect the occurrence of anyunanticipated events. Although we believe that our expectations arebased on reasonable assumptions, we can give no assurance that ourexpectations will materialize. Many factors could cause actual resultsto differ materially from our forward-looking statements.
Contact:
Ronen Koubi
305-503-1200 Ext553
ContactDetails
Mogul Energy International, Inc.
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