ASG TO ACQUIRE EAC LOGISTICS
The Swedish logistics and forwarding group ASG has announced a plan to
acquire EAC Logistics, the logistics arm of the Danish group East Asiatic
Co.
ASG, which itself is being acquired by the Deutsche Post/Danzas group,
will purchase EAC’s logistics operations in China, Hong Kong, Thailand and
Singapore for approximately 91 million Swedish krona ($11 million).
EAC Logistics has net yearly sales of SKr180 million ($21 million). With
310 employees, the operation includes about 60,000 square meters of
warehouse area and counts Shell, Mars, Johnson & Johnson, KFC, Philip
Morris and Nike among its customers.
ASG said that the expanded ASG Logistics group will be one of the
leaders in the third-party logistics industry in the Asia-Pacific region,
with total sales of SKr200 million ($24 million).
ASG Logistics, including EAC Logistics, is likely to be integrated into
Danzas after completion of the takeover.