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Schneider Logistics sets sights on American Overseas Air Freight.
Schneider Logistics has signed a stock purchase agreement to acquire American Overseas Air Freight, an international freight forwarder and a licensed US customs broker. The terms of the transaction are not being disclosed. (2/14/2006)
The company specialises in the handling and shipping of import and export products by air, ocean and truck. On completion of the acquisition, Schneider National will be the first truckload carrier to complete the cycle of international to inland delivery.
“The freight forwarding and customs brokerage expertise of American Overseas will complement Schneider’s existing transportation and logistics services offerings as we continue to expand globally,” said Tom Escott, president, Schneider Logistics. “This acquisition is another key component in our strategy to build a comprehensive door-to-door global logistics operation that spans air, ocean, rail and truck transportation.”
This is Schneider Logistics’ second acquisition in six months. In August last year, the company completed the acquisition of American Port Services.
Ron Barker, president of American Overseas will continue to lead the El Segundo, California-based organisation once the acquisition is finalised. Closing of the purchase agreement is expected to occur within the next 45 days.
According to Escott, the company will retain the American Overseas name and will conduct business as a wholly owned subsidiary of Schneider Logistics.
American Overseas has operations in four locations in California: El Segundo, Carson, San Diego and San Francisco. The company is a member of the Hi-Tech Freight Forwarder Network, a worldwide network of independent forwarding agents that provides a high level of flexibility, service and local expertise to a wide range of multinational clients.
BALtrans acquires Clover Cargo.
Hong Kong-based BALtrans Holdings has entered into an agreement to acquire 52% of the issued share capital of Clover Cargo Holdings. (2/14/2006)
With its strong base in South Africa, Clover Cargo is engaged in supply chain management business providing international supply chain logistics services and solutions, comprising freight forwarding, customs broking and warehousing, to importers and exporters.
Clover Cargo operates in Johannesburg, Durban, Cape Town and Port Elizabeth with 250 employees, and achieved an annual turnover in 2004 (excluding customs duties and VAT) of approximately ZAR353 million (HK$445 million).
Commenting on the benefits of the acquisition, BALtrans chairman & CEO Anthony Lau said: “It has been our goal to expand into new markets and build an integrated global network. The acquisition is not only consistent with our goal, but also signifies our continuing efforts to expand in the Europe, Middle East & Africa (EMEA) region.”
Clover Cargo is a major player in the freight forwarding and logistics field in South Africa. The acquisition gives BALtrans a strong foothold in the South African market, and the company stands to benefit immediately from the new business opportunities it brings and the solid platform it provides for expanding business in the region.
“By integrating Clover Cargo into BALtrans worldwide network, we expect to achieve synergies and greater economies of scale, which will enable us to enhance our service offerings to our customers,” said Lau.
BALtrans expects to complete the acquisition by April 30, 2006. BALtrans currently holds 10% of the issued share capital of Clover Cargo Holdings through a non-wholly owned subsidiary. On completion of the acquisition, Clover Cargo will become a 59.5% non-wholly owned subsidiary of BALtrans.
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http://www.eyefortransport.com/
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Schneider Logistics sets sights on American Overseas Air Freight.
Schneider Logistics has signed a stock purchase agreement to acquire American Overseas Air Freight, an international freight forwarder and a licensed US customs broker. The terms of the transaction are not being disclosed. (2/14/2006)
The company specialises in the handling and shipping of import and export products by air, ocean and truck. On completion of the acquisition, Schneider National will be the first truckload carrier to complete the cycle of international to inland delivery.
“The freight forwarding and customs brokerage expertise of American Overseas will complement Schneider’s existing transportation and logistics services offerings as we continue to expand globally,” said Tom Escott, president, Schneider Logistics. “This acquisition is another key component in our strategy to build a comprehensive door-to-door global logistics operation that spans air, ocean, rail and truck transportation.”
This is Schneider Logistics’ second acquisition in six months. In August last year, the company completed the acquisition of American Port Services.
Ron Barker, president of American Overseas will continue to lead the El Segundo, California-based organisation once the acquisition is finalised. Closing of the purchase agreement is expected to occur within the next 45 days.
According to Escott, the company will retain the American Overseas name and will conduct business as a wholly owned subsidiary of Schneider Logistics.
American Overseas has operations in four locations in California: El Segundo, Carson, San Diego and San Francisco. The company is a member of the Hi-Tech Freight Forwarder Network, a worldwide network of independent forwarding agents that provides a high level of flexibility, service and local expertise to a wide range of multinational clients.
BALtrans acquires Clover Cargo.
Hong Kong-based BALtrans Holdings has entered into an agreement to acquire 52% of the issued share capital of Clover Cargo Holdings. (2/14/2006)
With its strong base in South Africa, Clover Cargo is engaged in supply chain management business providing international supply chain logistics services and solutions, comprising freight forwarding, customs broking and warehousing, to importers and exporters.
Clover Cargo operates in Johannesburg, Durban, Cape Town and Port Elizabeth with 250 employees, and achieved an annual turnover in 2004 (excluding customs duties and VAT) of approximately ZAR353 million (HK$445 million).
Commenting on the benefits of the acquisition, BALtrans chairman & CEO Anthony Lau said: “It has been our goal to expand into new markets and build an integrated global network. The acquisition is not only consistent with our goal, but also signifies our continuing efforts to expand in the Europe, Middle East & Africa (EMEA) region.”
Clover Cargo is a major player in the freight forwarding and logistics field in South Africa. The acquisition gives BALtrans a strong foothold in the South African market, and the company stands to benefit immediately from the new business opportunities it brings and the solid platform it provides for expanding business in the region.
“By integrating Clover Cargo into BALtrans worldwide network, we expect to achieve synergies and greater economies of scale, which will enable us to enhance our service offerings to our customers,” said Lau.
BALtrans expects to complete the acquisition by April 30, 2006. BALtrans currently holds 10% of the issued share capital of Clover Cargo Holdings through a non-wholly owned subsidiary. On completion of the acquisition, Clover Cargo will become a 59.5% non-wholly owned subsidiary of BALtrans.
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