All acquisitions articles – Page 2
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ArticleYusen Logistics buys Transfreight Europe
Third party logistics provider Yusen Logistics has acquired Mitsui & Co subsidiary Transfreight Automotive Logistics Europe for an undisclosed sum.A Yusen statement said both companies offered expertise in cross-docking, transport and manufacturing plant logistical support and operations, but with complementary regional scope.Ian Veitch, chief regional officer of Yusen Logistics Europe, ...
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ArticleECG column: More of the same or all change?
This year will be one of substantial change, but change brings opportunity… including the opportunity to treat our drivers better Wolfgang Göbel is president of the Association of European Vehicle Logistics (ECG) Welcome to a new and probably rather interesting year. We entered 2017 in Europe with a ...
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ArticleZF establishes world’s second largest supplier of aftermarket parts
Germany’s ZF has established a dedicated new aftermarket division – ZF Aftermarket – which it says is the second largest supplier of premium aftermarket parts in the world.ZF Aftermarket will supply global customers with five product brands and associated services.The move stems from ZF’s takeover of rival parts maker TRW ...
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ArticleUPS acquires UK-based road transport broker Freightex
Global freight forwarding and logistics giant UPS has acquired UK-based Freightex for an undisclosed sum. The acquisition gives UPS a presence in the UK and European third-party logistics (3PL) road transport brokerage market.Freightex provides brokerage for truckload, less-than-truckload, specialised and refrigerated road transport services.In August 2015, UPS acquired North American ...
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ArticleEkol buys majority stake in Trieste terminal operator
Turkish transport and logistics provider Ekol Logistics has bought a majority 65% stake in Europa Multipurpose Terminals for an undisclosed sum. The company operates a ro-ro terminal at the port of Trieste, in Italy, served by ocean and rail. The other stakeholders are forwarding company, Casa di Spedizioni, and regional ...
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ArticleMaersk Line buys Hamburg Süd as sector consolidation continues
Denmark’s Maersk Line, the world’s largest container shipping company, has agreed to buy Hamburg Süd, the world’s seventh biggest, for an undisclosed sum.The deal is just the latest in a series announcements reflecting consolidation in the shipping industry, which is suffering from record low rates and overcapacity. Back in August, ...
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ArticleTesla buys automated manufacturing specialist Grohmann
Electric vehicle producer Tesla has agreed to acquire Grohmann Engineering, an automated manufacturing specialist, for an undisclosed sum.Located in Prüm, Germany, Grohmann will be renamed Tesla Grohmann Automation and is expected to design and produce several critical elements of Tesla’s automated manufacturing systems, as the electric car company targets production ...
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ArticleBrussels gives thumbs-up to UECC Ibérica sale
Spain’s terminal operating and services company Marítima del Mediterráneo (Marmedsa) is to take a 50% stake in UECC Ibérica, the Portuguese-based firm that manages and operates the finished vehicle terminal at the northern Spanish port of Pasaia (Pasajes).The remaining 50% of the company will be retained by short-sea maritime services ...
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ArticleK Line, MOL and NYK form container joint venture
Global maritime logistics providers Kawasaki Kisen Kaisha (K Line), Mitsui OSK Line (MOL) and Nippon Yusen Kabushiki Kaisha (NYK) are integrating their respective container shipping businesses in a new, as yet unnamed, joint venture. The merger includes the companies’ worldwide terminal operations, with the exception of Japan.NYK will own 38% ...
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Private equity firm Tailwind Capital buys MetroGistics
US-based automotive third party logistics provider MetroGistics has been bought out by private equity firm Tailwind Capital for an undisclosed sum."We are excited to partner with the MetroGistics management team,” said Jeff Calhoun, partner at Tailwind Capital. “The team brings extensive logistics industry experience and an impressive track record of ...
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ArticleXPO Logistics sells NA truckload business to TransForce
XPO Logistics has sold its North American truckload business to TransForce for $558m and will use the proceeds to pay down debt.The business formed part of XPO’s $3 billion acquisition of logistics provider Con-way in October 2015 and takes place as the company narrows its focus on areas where it ...
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ArticleCanadian pension fund manager buys stake in TVS Logistics
The Quebec Deposit and Investment Fund (CDPQ) has acquired a $155m interest in Indian-based third-party logistics provider, TVS Logistics Services.According to India’s Economic Times, the Canadian pension fund manager has acquired a 37% stake for its money, valuing the company at almost $420m (2,700 crore rupees).The deal will see Goldman ...
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ArticleNissan seeks synergies as it adds Mitsubishi to its alliance
In completing its $2.3 billion investment in a 34% stake in Mitsubishi this week, Nissan has added a third company to its 17 year-old global alliance with Renault.Not only will the deal make the combined group the world’s third largest car producer with an anticipated 10m vehicles this year, but ...
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ArticleLookers expands dealer network with Drayton buyout
UK car dealer group Lookers is buying its rival Warwick Holdings, which trades as Drayton Group, for £55.4m ($71m). Drayton provides car sales and aftermarket services for Mercedes-Benz in the West Midlands region of the UK.The buyout includes seven dealerships, bringing the number of Lookers Mercedes-Benz locations in the network ...
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Verizon builds telematics expertise with Fleetmatics buyout
Verizon Communications has announced an agreement to acquire Fleetmatics, a global provider of fleet telematics and mobile workforce management solutions, for around $2.4 billion. The move comes just a week after Verizon confirmed its acquisition of Yahoo for $4.8 billion.The takeover is subject to customary regulatory approvals and closing conditions, ...
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ArticleFedEx completes buyout of TNT Express
Global courier FedEx has officially completed its takeover of European rival TNT Express following approval by European regulators in January this year. The buyout, which is worth around €4.4 billion ($5 billion), means FedEx adds a leading ground network distribution service for customers.FedEx will move its European headquarters to Hoofdoorp ...
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ArticleNissan buys $2.2 billion stake in Mitsubishi
Nissan is buying a 34% share in rival Japanese carmaker Mitsubishi for ¥237 billion ($2.2 billion) and will extend the strategic alliance the companies have had for the past five years.The two carmakers have agreed to cooperate in areas including purchasing, common vehicle platforms, technology sharing, joint plant activity and ...
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ArticleWorkers protest at XPO shareholder meeting over job losses
XPO Logistics has been accused of “mismanaging the integration of its new businesses” by the international Teamsters union, which is helping to organise a protest by workers from both the US and Europe outside the company’s shareholder meeting in Greenwich, Connecticut today (May 11th).XPO has so far not issued any ...
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ArticleRhenus Logistics to take over Ferrostaal Automotive
German logistics provider Rhenus Group is buying Ferrostaal Automotive for an undisclosed sum.Ferrostaal Automotive provides pre-assembly operations to carmakers including Audi, Ford, GM, VW and Seat and the buyout, which will be formalised at the beginning of July this year, will expand the logistics provider’s service offering in Germany, Belgium, ...
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ArticleConsolidation in logistics: Big fish eat the little fish...
The big players in automotive logistics are getting bigger after a record year for mergers and acquisitions, with middle players at particular risk of being subsumed. So will this trend continue?There has been a growing trend for consolidation in the third party logistics sector over the past few years, including ...
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