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Article: Stonepath Group Announces Reorganization and Change in Strategic Direction.
- Article from:
- PR Newswire
- Article date:
- February 15, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA, Feb. 15 /PRNewswire/ --
Stonepath Group (Amex: STG) today announced its new convergence strategy to acquire operating companies that will increase their efficiency and profitability by adopting new technologies, new business tools and innovative business practices. Previously, the Company invested in and developed early-stage Internet and technology companies.
In conjunction with the shift in strategic direction, Stonepath has moved its headquarters to Philadelphia and has closed its San Francisco and Boston offices. The reorganization resulted in the elimination of the Company's business services group, thereby significantly reducing the ...