Former Eagle Global Logistics (EGL) founder and CEO Jim Crane has announced his re-entry into the freight-forwarding sector in August, with the establishment of Crane Worldwide Logistics.

The new company will be headquartered in Houston, targeting USD 1 billion in revenue with around 4,000 employees over the next five to seven years, Analytiqa reported.

In the new venture, Mr Crane will be chairman of the board, joined by a number of former colleagues at EGL. Its management team has appointed John Magee as chief executive officer and Keith Winters ad chief operating officer.

Crane Worldwide Logistics is set to operate in more than 40 countries, with its focus laid on Asia/India sub-continent, the Americas and Europe.

The headquarters will strictly abide by Quality, Health, Safety and Environment (QHS&E) guidelines, complying with the US Environmental Protection Agency’s SmartWay Transport Partnership to cut emissions, air pollution and mitigating the impact on fuel on the environment.

Mr Crane’s departure from EGL came when CEVA Logistics acquired the company last year by outbidding him. He had expressed his intention to take the company private.