Friday, July 6, 2012

Road Haulage and Logistics Group Expands Freight Forwarding Activities

French Group Achieves Strategic Growth
Shipping News Feature

SRI LANKA – INDIA - FRANCE – French road haulage and logistics group Norbert Dentressangle has confirmed the expansion of its freight forwarding empire after purchasing the interests of the Sri Lankan conglomerate John Keells Holdings. The freight forwarding operations acquired employ 120 people and reported revenues of nearly $10 million (€8 million) for 2011, with a network of six offices in India, covering the main coastal regions, plus another two in Sri Lanka.

Dentressangle says that the acquisition is a continuation of its global strategy and, following the purchase of Chinese logistics group APC Beijing International, the company says the acquisition of a reliable, recognised major Indian and Sri Lankan freight forwarding player means the Asian continent is now well served by the Group’s operations.

The deal was settled on Wednesday when a share agreement was signed by both parties and finalisation of the transaction is proposed for the end of August. Norbert Dentressangle’s freight forwarding business now has a network of 50 offices and 600 employees operating in 12 countries on 3 continents and the new deal will enable an expansion of Norbert Dentressangle Overseas’ operation Red Sky Connect which launched in April, an ocean and airfreight forwarding service connecting China to Europe and the Americas, Latin America to Europe and the US, and the US to Europe.