Shanghai, 18 July 2011 - Kerry Logistics has acquired a controlling interest in two groups of companies in China; Shanghai Wisdom Group (“Wisdom”) and Shanghai Huicheng Logistics (“HCL”), strengthening the company’s presence in the ocean freight and 3PL sectors.
Based in Shanghai, Wisdom is an NVOCC and operates one of the major sea freight consolidation platforms. It enjoys a prominent position in the local sea freight business and ranks in the top three companies operating out of Shanghai serving the Japan and Southeast Asia trade routes.
HCL is a 3PL, specializing in integrated logistics in chemicals, with a special focus on dangerous goods, FMCG (Fast Moving Consumer Goods), electromechanical and automotive industries. A major service of HCL is chemical logistics spanning dangerous goods logistics which provides significant synergies for Kerry Logistics’ business in China.
“These two acquisitions demonstrate our commitment to building on our strong position in both the ocean freight and logistics sectors in China. We are always looking to provide our customers with an improved level of service and to strengthen our comprehensive domestic logistics network in China, “said Edwardo Erni, Managing Director, Mainland China.
About Kerry Logistics
Kerry Logistics is Asia’s premier logistics service provider. Its core business encompasses Integrated Logistics, International Freight Forwarding and Supply Chain Solutions. With its head office in Hong Kong, Kerry Logistics is managing a portfolio of logistics facilities with a total area of more than 2.4 million sq.m, served by a truck fleet of about 8,000 vehicles, with a range of operations reaching 24 countries and supported by a staff strength of over 14,800. Kerry Logistics Network Limited is a wholly owned subsidiary of the Hong Kong-listed Kerry Properties Limited.