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International Logistics to Acquire Matrix

November 13, 1996|Times Staff and Wire Reports

International Logistics Ltd. said it will acquire Alexandria, Va.-based Matrix International Logistics Inc. and predicted that the combined cargo companies will have revenue of $1 billion in 1997. International Logistics, a Chicago-based company formed by Los Angeles-based William E. Simon & Sons and Oaktree Capital Management, wouldn't disclose terms. Simon is a former secretary of the Treasury in the Reagan administration. The company projects revenue of about $850 million for 1996, increasing about $150 million next year. International said its goal is to build a global company to transport household and commercial goods by various means. Last week, it purchased LEP North America, a Georgia-based freight carrier.

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