Company’s Second U.S. Facility to Be Strategically Located in Close Proximity to Port of Charleston
CHARLESTON, S.C., Jan. 12, 2023 (GLOBE NEWSWIRE) — FlexCold, a leader in revolutionizing cold storage warehousing with end-to-end expertise, today announced plans to open its second cold storage facility in the U.S., which will be built in Charleston, SC, where the Company’s headquarters are located. The new facility is planned to be operational by late summer 2024. The first facility, located in Jacksonville near the Jacksonville Port Authority (JAXPORT), opened in the fall of 2022.
The new facility planned for Charleston represents a $50MM total investment and will be strategically located within 30 minutes of the Port of Charleston offering a significant benefit to its customers and the overall supply chain. Operationally, the facility will support critical import and export business, specifically seafood, blast freezing, USDA and FDA inspections, as well as a range of other services. FlexCold will be building the new facility from the ground up, leveraging its end-to-end expertise in designing modern infrastructure and storage densification to maximize the efficiency of resources. The planned facility will offer more than 30,000 pallet positions of cold-storage space.
“We are excited to keep growing the FlexCold business by establishing operations in strategic locations that are advantageous to today’s evolving food-supply chain, such as this new planned facility for Charleston, which will support critical import and export business,” said Jeff Manno, FlexCold Co-Founder. “With a unique, expert-driven perspective on how to maximize efficiencies, supported with our people-centric culture, we can provide customers with unparalleled flexibility to meet their cold storage challenges today, and well into the future,” he added.
As an organization, FlexCold’s primary competitive advantage comes from its ability to pair best-in-class-expertise across real estate, technology, and deep operational insights helping to optimize the cold-storage process: from how the land is developed, to design and programming of the building, and where and how food is stored and moved. With the average age of cold storage infrastructure more than 40 years old, FlexCold’s unique and innovative solutions create efficiencies that support its customers’ growth.
The Company plans to continue to expand with the opening of new facilities in strategic locations with additional announcements planned later this year.
About FlexCold
Headquartered in Charleston, SC, FlexCold is a leader in revolutionizing cold-storage warehousing and logistics with end-to-end expertise. The company’s ground-up, customer-centric culture provides customers with personal, flexible, and nimble service in strategic locations that are advantageous to today’s evolving food landscape. For more information, visit www.flexcold.com
Contact: Karen Stillman
PR Contact
312-576-2408
kstillman@brandteampartners.com
The two knew from the start they were working on fake accounts, according to a lawsuit filed by JP Morgan.
So much for that Tesla stock (TSLA) bounce.
General Electric (NYSE: GE) has completed the first part of its breakup, and GE shareholders are now owners of GE HealthCare Technologies (NASDAQ: GEHC). But what should you make of the change, and are the shares worth selling, adding to, or initiating a new position in? Here's the lowdown.
One company has celestial aspirations, while the other is looking to get back its positive momentum.
Pretty much all Warren Buffett has done is win since becoming CEO of Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) in 1965. Including the 4% gain for Berkshire's Class A shares (BRK.A) in 2022, the Oracle of Omaha has overseen a greater than 3,700,000% aggregate return for his shareholders since taking the reins. With approximately four dozen securities in Berkshire Hathaway's investment portfolio, some are bound to underperform.
Burger King has seen better days. Once the Pepsi to McDonald's Coke, the Restaurant Brands International chain has fallen to number three in the U.S., slipping behind Wendy's . On the positive side, however, Burger King has great brand recognition.
The wait is over: It’s bank-earnings time. Profits were up at America’s two largest banks in the fourth quarter, but JPMorgan is predicting recession. Here’s how the banks did: + [At JPMorgan, profit rose 6% and revenue jumped 18%](https://www.wsj.com/livecoverage/stock-market-news-today-01-13-2023/card/jpmorgan-profit-jumps-but-bank-now-predicting-mild-recession-jUhLb5ZsbmTCRV7Kvqmf). The bank set aside $1.4 billion for potential loan losses in a mild recession. + [Bank of America profit rose 2
(Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. Provision for credit losses was $957 million in the quarter, compared with a $452 million release a year earlier. Provision for credit losses in the quarter included a $397 million increase in the allowance for credit losses primarily reflecting loan growth, as well as a less favorable economic environment, the bank said.
Overall, the December CPI report roughly met Street expectations, but there is still a lot of bearish commentary going around right now. Many financial prognosticators are forecasting another tough year for the stock market as the prospect of a recession looms large. However, that is certainly not the view of HSBC's Max Kettner. The strategist points out that the harbingers of doom are unlikely to be surprised by more negative developments with the markets already accounting for the fatalistic o
Expensive stocks can have low share prices. Cheap stocks can have high share prices. It might seem counterintuitive, but it's true. Of course, there are also attractively valued stocks that have low share prices.
Bank earnings are on tap and the nation’s biggest bank, JPMorgan Chase Co., says its profits on lending soared. But it is now officially expecting a mild recession. + Revenue rose 18% to $34.55 billion. Wall Street was looking for $34.35 billion, according to FactSet. + Profit rose 6% to $11 billion, or $3.57 per share. Analysts expected $3.08 per share. + The bank set aside $1.4 billion for potential loan-losses, as the bank said it is now anticipating a mild recession. A year ago, $1.8 billion
(Bloomberg) — In just over three weeks, seaborne deliveries of diesel from the European Union’s single biggest external supplier will be all but banned.Most Read from BloombergElon Musk Fan With 2,900% Gain Sees $1.5 Million Wiped AwayUS Inflation Cools Again, Putting Fed on Track to DownshiftT-Mobile Considers Buying Ryan Reynolds’s Mint MobileThe Document That Separates Biden and TrumpGoogle, Nvidia Express Concerns to FTC About Microsoft’s Activision DealWho will step in to plug this enormou
Let's discuss the prospects of three high-yield stocks, which are offering dividend yields above 5% and are attractively valued right now. Thanks to the high dividends of these stocks, their shareholders are adequately compensated while waiting for the stock prices to appreciate. Verizon Communications , which was created by the merger between Bell Atlantic and GTE in 2000, is one of the largest wireless carriers in the U.S. The company generates approximately 75% of its revenue from its wireless business and the remaining 25% from broadband and cable services.
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it…
Delta Air Lines earnings topped expectations. But DAL stock fell as revenue and the Q1 outlook disappointed investors.
The super investor is sounding the alarm.
Novavax (NASDAQ: NVAX) has gone from being a relatively unknown healthcare company to being one of the most popular vaccine makers in the world today. On Jan. 2, 2020, shares of Novavax closed at $4.49.
In 2020, it seemed Cathie Wood could do no wrong. One stock that Wood is particularly bullish on is Roku (NASDAQ: ROKU). Wood's bull case on Roku is even more optimistic, with a price target of $1,493, or potential gains of 3,100%.
The bank is among those to benefit most from the Federal Reserve’s string of interest-rate increases.
Wells Fargo Co.’s earnings just landed. The bank took a big charge tied to [_**a $3.7 billion settlement**_](https://www.wsj.com/articles/wells-fargo-reaches-3-7-billion-deal-with-regulators-over-consumer-banking-11671546132?mod=article_inline) with the Consumer Financial Protection Bureau late last year to settle allegations that it harmed more than 16 million people with deposit accounts, auto loans and mortgages. + The bank earned $2.86 billion, down 50% from $5.75 billion in the [year-earlie
