Posted on: Friday, January 28, 2005
BUSINESS BRIEFS
Matson unit buys Aquitaine
Advertiser Staff
Matson Integrated Logistics yesterday announced its acquisition of Aquitaine Assets Ltd., a Houston-based freight transportation management and technology company.
Aquitaine provides rail and truck transportation services throughout North America. Its technology services include a Web-based pricing and routing system. Financial details of the acquisition were not disclosed. Aquitaine generated more than $20 million in revenue last year.
Matson Integrated Logistics is a subsidiary of Matson Navigation Co. Inc. The latter is a wholly owned subsidiary of Honolulu-based Alexander & Baldwin Inc.
Kona-based microalgae producer Cyanotech Corp. yesterday reported a profit of $326,000, or 2 cents a share, in the quarter ended Dec. 31, compared with a profit of $109,000, or a penny a share, in the year-ago period.
Sales rose 5 percent to $3.18 million from the year-ago quarter. It was the fifth consecutive profitable quarter for Cyanotech, which produces dietary supplements from microalgae.
Cyanotech reports profit
