Communiqué d'EXEL
Acquisition de Fujitsu Logistics par Exel
______________________________________
EXEL ACQUIRES FUJITSU LOGISTICS LTD
02 June 2004
(London, UK – 2 June 2004) Exel, the UK based, global leader in supply chain management, today announced that it has completed the acquisition of Fujitsu Logistics Limited (FJL) from Fujitsu Limited, a leading provider of customer-focused information technology and communications solutions. FJL provides a range of logistics services to Fujitsu’s companies in Japan and in 2003 had turnover of £200m (Y40bn). The transaction is supported by a five-year outsourcing agreement under which Exel will continue to provide domestic logistics services to Fujitsu utilising the acquired infrastructure. The initial consideration of £25m (Y5bn) will be settled from existing cash funds, with up to a further £12.5m (Y2.5bn) payable after three years, dependent on future performance. Exel will incur some modest integration costs which will be taken as an exceptional item in 2004.
For Exel, this move represents a continuation of its strategy to build its contract logistics business across Asia Pacific and to strengthen its position in the important Japanese market, the second largest economy in the world. It provides a significant platform for the expansion of Exel’s already strong international forwarding presence into the Japanese domestic logistics market. The combination of FJL’s facilities, skilled workforce and specialist experience in the IT sector, together with Exel’s global network and expertise in serving other business sectors, creates a compelling proposition. Exel and FJL operations in Japan will be fully integrated into a single entity over the coming months. The acquisition will more than triple the size of Exel’s current operations in Japan.
FJL was founded in 1988 to provide logistics services to Fujitsu companies and currently employs over 470 employees plus 1,100 contract staff. There are 57 locations throughout Japan from which FJL manages distribution and warehousing services. The locations include a network of distribution centres with cross-docking and storage capabilities. FJL also operates a managed road and railfreight network with trunking and final delivery capabilities across Japan. Added value services include packaging design, service logistics, spare parts distribution, equipment installation and electronics recycling.
John Allan, Chief Executive, Exel commented, “I am extremely pleased that we have concluded this acquisition and outsourcing contract with Fujitsu. This is an important step towards building a significant presence in the Japanese market, which is a key part of our strategy for growth in Asia Pacific.”
Acquisition de Fujitsu Logistics par Exel
______________________________________
EXEL ACQUIRES FUJITSU LOGISTICS LTD
02 June 2004
(London, UK – 2 June 2004) Exel, the UK based, global leader in supply chain management, today announced that it has completed the acquisition of Fujitsu Logistics Limited (FJL) from Fujitsu Limited, a leading provider of customer-focused information technology and communications solutions. FJL provides a range of logistics services to Fujitsu’s companies in Japan and in 2003 had turnover of £200m (Y40bn). The transaction is supported by a five-year outsourcing agreement under which Exel will continue to provide domestic logistics services to Fujitsu utilising the acquired infrastructure. The initial consideration of £25m (Y5bn) will be settled from existing cash funds, with up to a further £12.5m (Y2.5bn) payable after three years, dependent on future performance. Exel will incur some modest integration costs which will be taken as an exceptional item in 2004.
For Exel, this move represents a continuation of its strategy to build its contract logistics business across Asia Pacific and to strengthen its position in the important Japanese market, the second largest economy in the world. It provides a significant platform for the expansion of Exel’s already strong international forwarding presence into the Japanese domestic logistics market. The combination of FJL’s facilities, skilled workforce and specialist experience in the IT sector, together with Exel’s global network and expertise in serving other business sectors, creates a compelling proposition. Exel and FJL operations in Japan will be fully integrated into a single entity over the coming months. The acquisition will more than triple the size of Exel’s current operations in Japan.
FJL was founded in 1988 to provide logistics services to Fujitsu companies and currently employs over 470 employees plus 1,100 contract staff. There are 57 locations throughout Japan from which FJL manages distribution and warehousing services. The locations include a network of distribution centres with cross-docking and storage capabilities. FJL also operates a managed road and railfreight network with trunking and final delivery capabilities across Japan. Added value services include packaging design, service logistics, spare parts distribution, equipment installation and electronics recycling.
John Allan, Chief Executive, Exel commented, “I am extremely pleased that we have concluded this acquisition and outsourcing contract with Fujitsu. This is an important step towards building a significant presence in the Japanese market, which is a key part of our strategy for growth in Asia Pacific.”