Cronos (NASDAQ:CRNS)
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The Cronos Group (Nasdaq:CRNS) is pleased to announce
the appointment of John Keir as its exclusive agent for Russia, the
Commonwealth of Independent States and the Baltic states. Mr. Keir
brings to Cronos over 20 years of experience in this region,
previously representing Sea Containers and GE SeaCo since 1986.
The appointment of Mr. Keir will facilitate the company's
expansion into emerging markets, strengthen its presence in the
region, and enable Cronos to capitalize on expanding business
opportunities with a more diversified customer base.
Mr. Keir and other representatives from Cronos will be present at
next week's TransRussia Exhibition and Conference, which will be held
in Moscow from March 20 through March 23, 2006. The Exhibition is the
leading forum for shipping line and freight transportation companies
in the region. This will be the first time that Cronos has
participated in the TransRussia Exhibition and Conference, and its
exhibit will be located at Stand C16.
Peter J. Younger, President and Chief Operating Officer of The
Cronos Group, said, "We are extremely pleased to announce our new
relationship with John Keir who brings years of experience and
expertise to our company with respect to Russia and the surrounding
areas. John's new association with the company, combined with our
presence at next week's TransRussia Exhibition, signals our intention
to become a leading force in this region. We are very pleased that
John has partnered with Cronos, and we look forward to working with
him and our new customers in this region for years to come."
Cronos is one of the world's leading lessors of intermodal
containers, owning and managing a fleet of over 446,000 TEU
(twenty-foot equivalent units). The diversified Cronos fleet of dry
cargo, refrigerated and other specialized containers is leased to a
customer base of over 450 ocean carriers and transport operators
around the world. Cronos provides container-leasing services through
an integrated network of offices using state-of-the-art information
technology.
This release discusses certain forward-looking matters that
involve risks and uncertainties that could cause actual results to
vary materially from estimates. Risks and uncertainties include, among
other things, changes in international operations, exchange rate
risks, changes in market conditions for the Company's container lease
operations and the Company's ability to provide innovative and
cost-effective solutions. For further discussion of the risk factors
attendant to an investment in the Company's Common shares, see the
Business section in Part I of the Company's Annual Report on Form 10-K
for the year ended December 31, 2004, which was filed with the SEC on
March 22, 2005.
This press release and other information concerning Cronos can be
viewed on Cronos' website at www.cronos.com