HOUSTON, Sept. 09, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company based on its custom-developed Fr8App platform, which is powered by AI and machine learning, offering a real-time portal for B2B cross-border shipping and domestic shipping within the United States-Mexico-Canada (NAFTA) region, today announces the expansion of its relationship with Kimberly Clark de Mexico, S.A.B. de C.V. (“KCM”) to include the Fr8App platform for cross-border logistics for shipments from Mexico to the United States.
As a result of the expansion, Fr8Tech now supports three types of logistics services for KCM. As announced in February 2022, Fr8Tech unveiled KCM as its first customer for its dedicated capacity product, Fr8Fleet. Since then, the arrangement has secured dedicated truck service on the Fr8App Platform for KCM, and KCM has added traditional spot services within domestic Mexico. KCM has again expanded the relationship with Fr8App to include its U.S./Mexico cross-border shipping needs.
Javier Selgas, CEO of Fr8Tech, said, “Pleased with the level of service and value KCM received from Fr8Fleet and domestic spot services, KCM logistics management chose the Fr8App platform to address their needs for the U.S./Mexico cross-border traffic. As KCM is one of the top consumer product manufacturers in North America, this important development validates Fr8Tech’s platform and services. KCM’s expanding relationship highlights our potential to increase business with existing customers as well as capture more transportation logistics trade from corporations of all sizes.”
About Kimberly Clark de Mexico, S.A.B de C.V.
Kimberly-Clark de México, S.A.B. de C.V. (KIMBERA.MX) is a leading Mexican company in consumer products for both care and hygiene inside and outside the home. Today, the company has eight plants located in the Mexican Republic, where it employs about 8,000 employees directly. The units of business produce and market more than 20 leading national and international brands, including: Kleenex®, KleenBebé®, Huggies®, Depend®, Kotex®, Kleenex®-Cottonelle®, Pétalo®, Sanitas®, Marli® and Kimlark®, among others.
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary Freight App, Inc. (“Fr8App”) is a B2B cross-border shipping marketplace in the NAFTA region powered by AI and machine learning. Focused on making shipping transparent and efficient, Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (OTR) shipping. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies, such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit fr8technologies.com.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Freight Technologies’ and Fr8App’s actual results may differ from their expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of the acquisition.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition, the ability of Fr8App to grow and manage growth profitably, and the company’s ability to retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies’ other filings with the SEC. Freight Technologies cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
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