Stonepath Group, a global logistics services organization, announced another key milestone in the creation of its global network with the acquisition of a controlling interest in two logistics businesses in Brazil. The acquired businesses, Azteca International Logistics (Azteca) and Cargo Connection Logistics (Cargo Connection), are integrated freight forwarders with operations throughout Brazil and will combine to provide the platform for Stonepath's Latin American operations.

Azteca provides its clients with a wide-range of transportation and logistics services and supply chain solutions including global freight forwarding, warehousing and distribution and special freight handling. The company is headquartered in Porto Alegre and has offices in four other key regions of Brazil. Stonepath acquired a 70% interest in Azteca.

Also based in Porto Alegre, Cargo Connection is a full-service logistics business with a comprehensive truck brokerage operation and extensive warehouse and consolidation capabilities. They operate extensive distribution services throughout the MERCOSUR Trade Pact countries of Brazil, Argentina, Paraguay and Uruguay. Stonepath acquired a 70% interest in Cargo Connection.

"These acquisitions position Stonepath at the forefront of an emerging, powerful global market where our clients in Europe and the United States, particularly in the apparel industry, are sourcing goods," said Dennis L. Pelino, Stonepath Chairman of the Board and CEO. "Azteca and Cargo Connection are run by young, aggressive entrepreneurs who will be great additions to the Stonepath organization. These companies strengthen our transportation network and our service capabilities in Latin America."

Mr. Pelino continued, "Through our acquisition strategy and approach to integrated logistics services, we continue to grow the power of our global network and are now better positioned to serve our clients in the emerging markets of South America."

Azteca's Managing Director, Sandro Oliveira and Cargo Connection's Managing Director, Sandro Zagonel, remarked: "We are very pleased to be joining the Stonepath Logistics network. Stonepath is an aggressive, technology-oriented logistics business. Together, we are in an excellent position to meet the increasing demand for high-quality, integrated logistics services throughout the world." Sandro Oliveira becomes Managing Director of Stonepath's Latin American operations.

Stonepath Group is a global logistics services organization that integrates established logistics companies with innovative technologies. Through its operating divisions, Stonepath Logistics offers a full-range of time-definite transportation and distribution solutions to a wide range of global and local businesses.