Nippon Express planning to buy logistics firm Cargo Partner

Tokyo-based integrated freight service provider, Nippon Express, is in talks to buy the Austrian logistics provider Cargo Partner. The deal valuation could be around USD 1 billion. The two parties are still negotiating the terms of a prospective deal, and things may materialise in the coming weeks.

The Vienna-based firm has been working with advisors for a potential sale since last year, although nothing has been finalised yet. Founded in 1983, Cargo Partner employs 4,000 staff worldwide and offers air and sea freight services, warehousing, and supply chain management. It reported a turnover of over USD 2.2 billion in 2022. On the other hand, Nippon Express offers integrated freight services covering sea, air, rail, road, and different modes and recorded a net income of USD 819 million last year. It expects lower profit growth this year due to slower economic growth. It is planning a spinoff of its construction and heavy haulage business.

Cargo Insights is now on WhatsApp Channel! Join Now!

Leave a Reply

Your email address will not be published. Required fields are marked *

Celebrating Success Honouring Cargo & Logistics Industry Leaders at CargoNXT Recognitions Part 1

Celebrating Success: Honouring Cargo & Logistics Industry Leaders at CargoNXT Recognitions

🏆 Embarking on a Journey of Excellence in Cargo & Logistics! 

 

🚚✨ Witness the outstanding achievements of leaders celebrated at CargoNXT Recognitions: Late Jai Karan Sharma, Vipin Vohra, Dr. Vandana Singh, Keku Bomi Gazder, Dr. Pushpendra Pratap Singh, S. Ramakrishna, Shailender Anand, and Yashpal Sharma. 

You have Successfully Subscribed!