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APL Logistics dives into Chinese interior with Beijing APLL-Zhiqin buyout

Author: Posttime:2012-10-11 08:02:16

APL LOGISTICS has announced an agreement with Legend Holdings Co Ltd and Beijing Willway Information Technology Co Ltd to acquire all of their shares in APLL-Zhiqin Group, a Chinese joint venture partnership among the three parties. "The transaction, expected to close by end of the year, will accelerate Singapore-based APL Logistics' plans to expand its logistics hub management and domestic distribution capabilities in support of China's fast growing domestic economy," said an APL statement. APLL-Zhiqin offers services in logistics hub management, domestic land transport, supply chain technology services, customs brokerage, import and export management, and supply chain consulting. Today's joint venture today has nearly 1,000 employees, which manages hub facilities in more than 20 locations and a broad transport and distribution network covering over 2,000 locations in China, extending into third and fourth tier cities."We're witnessing continued growth in China's domestic market, where both APL Logistics and APLL-Zhiqin have enjoyed a fruitful partnership over the past decade," said APL Logistics north Asia vice president Danny Goh. "The acquisition enables APL Logistics to further deepen and broaden its investment in the business and to continue to build on APLL-Zhiqin's scale, reach, capabilities and strengths," Mr Goh said. With a presence in China since 1989, APL Logistics said it is among the largest providers of international freight management and pre-distribution logistics services out of China today. Post acquisition, the company will combine with APLL-Zhiqin to offer a service network of 78 offices and facilities across China, thereby providing a comprehensive suite of supply chain capabilities.APLL-Zhiqin was established in 2003 as a China-focused logistics services joint venture partnership among APL Logistics and China's Legend Holdings and Beijing Willway Information Technology. With offices and hub facilities in 30 locations across China, its transportation and distribution network spans over 2,000 cities and towns.

source:www.schednet.com
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