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CHICAGO - Callan JMB Inc. (NASDAQ:CJMB) announced Thursday it has secured a six-month extension to its emergency supplies storage contract with the City of Chicago, increasing the total contract value by $1.5 million to $9.1 million. The contract extension comes as the company’s stock shows strong momentum, with InvestingPro data revealing a 7.84% return in the past week.
The extension will run through June 20, 2026, continuing the partnership that began in 2018. Under the agreement, Callan JMB’s operational subsidiary, Coldchain Technology Services, will maintain management and distribution of stored emergency preparedness supplies for Chicago residents. The company reported annual revenue of $6.22 million in the last twelve months, though InvestingPro analysis indicates it’s currently not profitable.
"We are proud that the City of Chicago has shown its confidence in our performance in Emergency Preparedness and Response by awarding us an extension to the pallet storage contract with them," said Wayne Williams, Founder and CEO of Callan JMB.
The company specializes in healthcare logistics services including fulfillment, storage, monitoring, and cold chain logistics for medical materials. The Chicago contract involves Health Preparedness Supplies and Related Services. Financial data shows strong liquidity, with a current ratio of 6.49, indicating robust short-term financial health.
This extension represents a continuation of the seven-year relationship between the logistics company and Chicago’s emergency management operations.
Callan JMB, based in Spring Branch, Texas, provides supply chain logistics services to healthcare organizations and emergency management agencies, with capabilities in thermodynamics, biologics, inventory management, and regulatory compliance. The company’s stock has shown impressive momentum, gaining 34.15% over the past six months. Get access to more detailed financial insights and 8 additional ProTips with InvestingPro.
The information in this article is based on a company press release statement.
In other recent news, Callan JMB Inc. has announced the establishment of Callan JMB Services (India) Private Limited to expand its logistics services in India, including a new warehouse in Pune, Maharashtra. This facility will focus on the storage and distribution of pharmaceuticals, with capabilities for specialized temperature-controlled storage necessary for clinical trials. The Indian subsidiary will not only serve the local market but also assist Indian companies like Walker’s Pharmaceuticals Ltd. and Brihans Natural Products Ltd. in setting up manufacturing operations in the United States. Additionally, Callan JMB has entered a joint venture with Revival Health Inc. to enhance healthcare logistics, combining its cold chain logistics expertise with Revival Health’s focus on preventive care. The partnership aims to develop a supply chain that efficiently distributes health and wellness products while maintaining safety standards. This strategic move reflects Callan JMB’s commitment to improving healthcare distribution and accessibility. The joint venture is poised to address the growing demand for personalized healthcare products in the U.S. These developments highlight Callan JMB’s ongoing efforts to innovate and expand its logistics capabilities in the healthcare sector.
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