FUEL - the recently-established R1,3-billion logistics group - has acquired 50% of Airborne Express SA, a R120-million a year company. Fuel and the US$3,1-billion US-based Airborne Freight Corporation now jointly own Airborne Express South Africa.
Fuel chief executive officer Holger Eckoldt said the deal marks the first international alliance in the South African logistics industry that is not based on an agency agreement.
The South African market is ready for a new player in the global distribution of goods, particularly in light of the advent of e-commerce and the subsequent increase in fulfilment and delivery needs, he said.
Airborne Freight Corporation, which operates under the trade name Airborne Express, provides logistics and distribution services to more than 200 countries world-wide
The companies in the Fuel group currently include: RTT Road Groupage, RTT Export, RTT Airfreight, RTT Roadliner, RTT Warehouse, Airborne Express, Special Operations Services (SOS), Kite Logistics, LADS Consulting and Management, Revert Risk Management, Reach and EPOS.
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