The Australia arm of global freight forwarder Yusen Logistics purchased Hitech Asia Pacific to diversify its supply chain offerings and gain access to high-profile customers like Canon, Siemens, General Electric, and Philips.
The Australia arm of global freight forwarder Yusen Logistics has acquired Hitech Asia Pacific a supply chain management provider specializing in the shipment of sensitive cargo.
Yusen Logistics-Australia said in a statement it purchased the company to diversify its supply chain offerings and gain access to high-profile customers like Canon, Siemens, General Electric, and Philips. Financial terms of the deal were not disclosed.
With around 110 employees in eight locations across Australia and New Zealand, the addition of Hitech will push Yusen’s combined revenues to over $150 million and its total staff to 560, according to analyst estimates.
“We are very excited about the opportunities Hitech will bring Yusen and the additional services we will be able to offer to our customers,” Yusen Logistics Managing Director Ian Pemberton said of the acquisition. “Hitech’s skills in sensitive freight are highly complementary to Yusen’s international capabilities.”
“Historically, as much as 80 percent of our business was Japanese centric,” he added. “In recent years, our growth strategy has been to expand our customer base to include Europe and the U.S., the acquisition of Hitech will allow us to further develop trade with these countries and also open opportunities with the Chinese and Korean markets.”
Yusen Logistics is a wholly owned subsidiary of the Tokyo-based NYK Group, parent of eponymous ocean carrier NYK Line.
“We are delighted to be joining Yusen Logistics,” said Hitech CEO Tom Devjak. “Hitech will benefit from access to Yusen’s extensive global network including prime airport locations and international freight forwarding capabilities, we will now be able to offer customers seamless global transportation services.”
Yusen acquires Australian sensitive cargo specialist
