SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
September 8, 1999
Date of report (Date of earliest event reported)
UNITED SHIPPING & TECHNOLOGY, INC.
(Exact Name of Registrant as Specified in Charter)
UTAH 000-28452 41-1823559
(State or Other (Commission File Number) (IRS Employer
Jurisdiction Identification No.)
of Incorporation)
9850 51st Avenue North, Suite 110, Minneapolis, MN 55442
(Address of Principal Executive Offices)
(612) 941-4080
(Registrant's telephone number, including area code)
<PAGE>
ITEM 5. OTHER EVENTS.
On September 9, 1999, United Shipping & Technology, Inc. issued the
press release attached hereto as exhibit 99.1 and incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit No. Description
99.1 Press Release dated September 9, 1999
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: September 13, 1999 By: /s/ Kenneth D. Zigrino
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Name: Kenneth D. Zigrino
Title: Vice President-Administration,
General Counsel and Secretary
<PAGE>
INDEX TO EXHIBITS
EXHIBIT NUMBER
99.1 Press Release dated September 9, 1999
EXHIBIT 99.1
UNITED SHIPPING & TECHNOLOGY SIGNS AGREEMENT TO ACQUIRE
THE LARGEST SAME-DAY DELIVERY SYSTEM COMPANY
ACQUISITION WILL CREATE LARGEST SAME-DAY DELIVERY PLATFORM
FOR E-COMMERCE DISTRIBUTION
MINNEAPOLIS -- Sept. 9, 1999 -- United Shipping & Technology, Inc. (NASDAQ:USHP)
has entered into an agreement with Broomfield, Colo.-based Corporate Express,
Inc. (NASDAQ:CEXP) to acquire its subsidiary, Corporate Express Delivery
Systems, Inc. The acquisition will make United Shipping & Technology the largest
same-day delivery system and e-commerce distributor in the United States.
Corporate Express Delivery Systems, with more than $600 million in sales, is
currently the largest same-day delivery service in the United States and
believed to be the largest in the world. It has more than 200 locations
throughout the United States and global operations in Australia, Canada, France,
Hong Kong and the United Kingdom.
"Acquiring Corporate Express Delivery Systems enables us to accelerate our
vision of becoming the leading courier-delivery company in the United States and
worldwide," said Peter Lytle, United Shipping & Technology chairman and chief
executive officer. United Shipping & Technology -- www.u-s-t.com -- leverages
technology to improve shipping convenience and efficiency. In late 1998, the
company began acquiring courier companies and recently introduced i-courier(SM),
a new family of services that uses the Internet for secure transmission and
storage of documents.
"We are looking forward to working closely with the management and employees at
Corporate Express Delivery Systems to create a world-class growth company,"
Lytle said. "We have an incredible opportunity to strengthen and grow e-commerce
delivery service offerings. We're exploring every opportunity to provide our
customers with accessible, competitive e-commerce-related delivery services and
to grow the existing base business."
Another key strategy, according to Lytle, is the company's plan to grow
aggressively through additional acquisitions and franchising. "There is an
ever-increasing need for cost-efficient same-day delivery services," he said.
"In this $15 billion industry, United Shipping & Technology will be the world's
leading delivery-service provider by continuing to acquire and develop
dependable, affordable distribution services for e-commerce,
business-to-business and consumer-direct markets."
Lytle expects this transaction to close this month. The closing is subject to
completion of institutional financing and customary closing conditions and
intercreditor agreements.
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FORWARD-LOOKING STATEMENTS OF FUTURE PERFORMANCE LIKE THOSE GIVEN ABOVE ARE, OF
COURSE, SUBJECT TO FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY
FROM THOSE SUGGESTED HERE. SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND
UNKNOWN RISKS, UNCERTAINTIES OR ACHIEVEMENTS OF THE COMPANY. THESE RISKS AND
UNCERTAINTIES INCLUDE, BUT ARE NOT LIMITED TO, THE EFFECT OF ECONOMIC AND
FINANCIAL MARKET CONDITIONS, GOVERNMENT PUBLIC REPORTING REGULATIONS AND THE
INTEGRITY AND PERFORMANCE OF THIS AND OTHER RECENT APPLICATIONS.
