GAC buys into local logistics major

JOY ORLEK GLOBAL SHIPPING and logistics provider GAC Group (GAC) has acquired 50% of the clearing and forwarding business of independent South African logistics group Laser Logistics (LL) for an undisclosed sum. The joint venture company – GAC Laser International Logistics – combines GAC’s existing local infrastructure and resources with that of LL. The three offices in Johannesburg, Durban and Cape Town will employ 110 people and provide combined warehousing capacity of 25 000 m2. “Partnering with LL is the most efficient and logical way for GAC to take our brand to the next level in the local market since we started our operations here in 2003,” said Bill Hill, GAC Group vice president, logistics services. For LL, the joint venture adds global muscle, says chief executive of Laser Logistics, Michael Fuller Richard Ferguson has been appointed CEO of the new joint venture.