C.H. Robinson acquires Chinese forwarder

C.H. Robinson acquires Chinese forwarder

C.H. Robinson Worldwide announced Thursday that it will open seven offices in China as part of an agreement to acquire the selected assets of a Chinese NVOCC.

The acquisition of Dalian Decheng Shipping Agency Co., Ltd. is effective June 30, 2004. DDSA has seven offices throughout mainland China.

C.H. Robinson's new offices will be located in Dalian, Tianjin, Qingdao, Shanghai, Ningbo, Xiamen and Shenzhen. DDSA, a non-asset based provider, is focused on ocean freight forwarding. C.H. Robinson has maintained an agency relationship with DDSA since 1998.

DDSA is privately held; terms of the acquisition were not disclosed. The offices are expected to have approximately $12 million in gross revenues in the next 12 months.

C.H. Robinson said it has hired the approximately 90 employees of DDSA, including its leadership team, which will continue to manage the offices. C.H. Robinson's Asia operations will be headquartered in Dalian.