2015-01-05 Hong Kong
Kerry Logistics Network Limited (“Kerry Logistics”; Stock Code 636.HK), a leading logistics service provider in Asia, announced two strategic acquisitions to expand the reach and capacity of its international freight forwarding (“IFF”) business in the Middle East and Canada.
Kerry Logistics has strengthened its IFF capacity and network through acquiring a controlling stake in Able Logistics Group, an established international freight forwarder headquartered in Dubai with a regional leading position and offices across UAE, Saudi Arabia, Oman and China.
While in Canada, Kerry Logistics has extended its geographic reach via acquiring majority stakes in Total Logistics Partner Ocean Consolidators Inc. and Total Logistics Partner Air Express Inc. (collectively “TLP”), two Canadian freight forwarding companies focused on the Asia-Canada trade. The acquisition has added Montreal and Toronto to Kerry Logistics’ worldwide network.
William Ma, Group Managing Director of Kerry Logistics said, “These two acquisitions complement our existing IFF network and marked further inroads in our international expansion. With the addition of TLP, Kerry Logistics now operates in four countries in the Americas, comprising USA, Canada, Mexico and Brazil.”
“The investment in Able Logistics Group forms an instrumental part of our long-term IFF strategy to build a global network across six continents. It expands our capabilities in the Middle East and to connect globally through a round-the-clock transit hub linking Asia to Middle East, Europe and Africa. It also strengthens our service offerings to global customers with comprehensive IFF solutions in the Gulf Cooperation Council region and enhanced supply chain efficiency,” Ma added.
Dr Ghanem Al Hajri, Chairman of Able Logistics Group said, “This is a new chapter in our company’s development, and we deeply appreciate our partnership with Kerry Logistics. It offers us an excellent opportunity to tap the Asian market through Kerry Logistics’ comprehensive network in the region. We are certain that this will bring new momentum to deliver even better returns in future.”
Lois Krupka, President of TLP said, “TLP is proud to be part of Kerry Logistics. Our joint customer-focused approach will be greatly enhanced with the added coverage of the network, and the added asset-based approach in Asia, which adds tremendous value for our customers.”