Wednesday, December 30, 2009

Irish Freight And Logistics Company Buys Another American 3PL Provider

Syncreon Extends Reach into US Markets
Shipping News Feature

IRELAND – Irish / American transport group syncreon [sic] has shown that not all is doom-and-gloom for Irish companies by purchasing U.S. 3PL provider NAL Worldwide Holdings for an estimated $35 million (€24 million).

The move further enhances syncreon’s American operations by adding six facilities and an additional 550 staff in this key region for their global ambitions, and expands the company’s revenues to $725 million per annum.

Brian Enright, President & CEO of syncreon, said, “We are very pleased with this transaction. NAL considerably adds to our capabilities in the key US market and brings us access to new sectors, customers, capabilities and human talent. This acquisition builds upon syncreon’s core differentiator – flexible and customized solutions for our customers”.

The purchase is the latest in syncreon’s expansion which has seen the original company, Walsh Western, expand in the last two years from a comparatively modest Dublin-based operation to a global player now head quartered in Michigan with a presence in 20 countries, over 50 facilities and approximately 9,000 employees.