2016-06-01 Hong Kong
Kerry Logistics Network Limited (‘Kerry Logistics’; Stock Code 636.HK), Asia’s leading logistics service provider, today completed its US acquisition of a majority stake in Apex Maritime and its affiliated companies (‘APEX’). Headquartered in South San Francisco, APEX was founded in 1990 and is the top three NVOCC (Non-vessel Operating Common Carrier) ranked by Asia to US import volumes in 2015 according to Datamyne reports. The move is part of Kerry Logistics’ long-term international freight forwarding (‘IFF’) strategy to expand its sales network and coverage worldwide.
With over 20 years of experience in the industry, APEX specialises in trans-Pacific trade lanes and handled over 270,000 TEUs in 2015. The increased capacity through this partnership means more options, expanded geographies and better cost optimisation for customers of both companies. Kerry Logistics’ international customers now have a dedicated sales team on the ground to look after their business in the US market, as well as gaining complete supply chain visibility from origins to destinations; and APEX’s diverse base of customers now have access to a global network with enhanced service offerings and solid logistics support across Asia.
William Ma, Group Managing Director of Kerry Logistics, said, “The acquisition of APEX is a major leap forward in our global expansion plan. The Asia-US trade plays an important role in our IFF growth strategy and APEX will form an important business arm that further strengthens our global network, enabling us to tap into new opportunities from trans-Pacific trades. It will also bring mutual benefits to both companies, with enriched service offerings and extensive marketing network in the US to Kerry Logistics’ customers as well as strong Pan-Asia logistics support to APEX’s customers.”
“The APEX team is excited to join the Kerry Logistics family. We are ready to take full advantage in realising vast cross-selling opportunities from the integration. Our customers will gain global scale and best practices in supply chain management, while maintaining their relationship with the same team that has served them for years. We are enthusiastic to grow with Kerry Logistics from now on,” said Vic Cheung, CEO and President of APEX.
William Ma continued, “In APEX, we are partnering with a team that has been meticulously built over the last two decades and shares the same vision of becoming a global partner of our customers. Integration is already underway. I look forward to working closely with APEX’s management team as we execute our global development plan.”
The expansion of global presence will better position Kerry Logistics to strengthen its international service capabilities and to seize business opportunities in a way to benefit its core operations in Asia.