Japanese logistics company Kintetsu World Express (KWE) has reached an agreement with Neptune Orient Lines Limited (NOL) to purchase all of the shares of APL Logistics Ltd (APLL), a wholly owned subsidiary of NOL.
The announcement was made yesterday (February 17).
In its Medium-Term Management Plan released in May 2013, the KWE Group stated as one of its priorities the establishment of a management base that could compete on a par with European and US competitors in the global market.
According to KWE, the strengths of APLL lie in logistics services and various high-value-added services for companies in the automobile and retail industries, among others. It is expanding its business globally, with a focus on North America and Asia.
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