JOC Staff | Oct 30, 2012 10:46AM EDT
Nippon Express, Japan’s largest international forwarder, has acquired APC Asia Pacific Cargo (H.K.), a Hong Kong-based logistics firm, to strengthen its operations in China and Europe.
Nippon Express bought all shares of APC Asia Pacific Cargo through its Hong Kong subsidiary, Nippon Express (H.K.), the Tokyo-based company said, without disclosing the value of the transaction.
According to Nippon Express, APC Asia Pacific Cargo, established in 1980, has about 380 employees and had revenue of 938.5 million Hong Kong dollars (US$121 million) in 2011.
APC Asia Pacific Cargo has a wide-ranging customer base of apparel, cosmetics and other companies. It has operations in Europe, particularly northern European countries such as Sweden and Norway, as well as in Asia. Its mainstay businesses are air cargo and ocean cargo forwarding, and it has made significant inroads into the logistics business to complement its strength in Asia-Europe transport, Nippon Express said.
Nippon Express boasts one of the world’s largest global logistics networks. Group revenue totaled about US$20.4 billion in fiscal 2011, which ended on March 31, 2012, up 0.7 percent from a year earlier. Its group net profit surged 215.5 percent in fiscal 2011 from a year earlier to about $336.9 million.
