STONEPATH TAKES CONTROLLING INTEREST IN G-LINK GROUP

STONEPATH TAKES CONTROLLING INTEREST IN G-LINK GROUP    Stonepath Group, a Philadelphia-based logistics services organization, has acquired a majority stake in Singapore-based G-Link Group, a regional logistics business with offices across Southeast Asia.
   “Most of Stonepath’s clients have significant supplier relationships” in that region, Stonepath said in a statement.
   The acquisition is expected to close within 60 to 90 days. Once finalized, G-Link will continue its role as a neutral provider of services to freight forwarders. At the same time, G-Link will operate a division to market Stonepath’s services, which include integrating logistics companies with technology.
   In 2002, G-Link reported pre-tax operating income of $2 million on revenue of $18.6 million.