Logistics Plus receives Foreign Trade Zone Activation
DEC 2, 2015: Logistics Plus Inc. announced that it has filed and secured activated status from U.S. Customs & Border Protection (CBP) for a general purpose Foreign Trade Zone (FTZ) at its Dallas/Fort Worth (DFW), Texas warehouse located at 920 Westport Parkway, Haslet, TX 76177.
As previously announced, Logistics Plus moved into the new facility in early October. The DFW warehouse has 180,000 square feet of storage space and a pneumatic tire forklift that has 62,000 pounds of lifting capacity - giving it the largest operating forklift in the Dallas/Fort Worth metro area and surrounding region. The move to the larger facility and the activation of FTZ protocols were partly driven by a contract Logistics Plus was awarded in July to provide consignment warehousing services to GE Transportation, a division of General Electric, and its suppliers.
"We were given a very tight timeline to move into the new DFW warehouse and have FTZ status vetted and activated by CBP before the end of the year," said Jim Berlin, founder and CEO for Logistics Plus. "Because of a tremendous team effort, we were able to successfully move all inventory from the old facility to the new one in just four days, test and implement the required FTZ software protocols, and work with CBP officials to get the FTZ status activated ahead of schedule."
Thousands of U.S. businesses have discovered that Foreign Trade Zone utilization can prove to be an incredibly effective tool to help develop new markets while systematically increasing profitability from both their existing operations and international trade relationships. CBP has declared FTZs to be the best practice for compliant management of global supply chains, coordinated logistics, and integrated manufacturing operations. FTZs enable importers and exporters to consistently benefit from this CBP-privileged status; offering duty savings, reduced transportation and insurance costs, and the flexibility to do in America, what is too often done off-shore. If the finished products are exported from an FTZ, the original Customs duties are reduced.
Tags: Logistics Plus, Customs & Border Protection, warehouse, Foreign Trade Zone