223 additional warehousing facilities worldwide!

223 additional warehousing facilities worldwide! - Hangzhou MedAsia

Maersk to enhance logistics capabilities in Asia Pacific through acquisition.

On December 22, A.P. Muller Maersk (MAERSKa) ("Maersk") announced that it has reached an agreement to acquire LF Logistics, a contract logistics company headquartered in Hong Kong, China, in a transaction valued at US$3.6 billion, subject to regulatory approval, according to Maersk Group WeChat. The acquisition, which is subject to regulatory approval, is expected to be completed in 2022.

223 additional warehousing facilities worldwide

According to the introduction, Li & Fung Logistics is a private company jointly owned by Li & Fung Limited and Temasek Holdings, with Li & Fung and Temasek holding 78.3% and 21.7% of the shares respectively. Li & Fung Logistics consists of two business units: Domestic Logistics and Global Freight Management.

Established in 1906, Li & Fung Limited now operates one of the most extensive global supply chain networks in the world. It employs approximately 15,000 people in over 230 offices and distribution centers in 40 different markets.

Founded in 1999, Li & Fung Logistics is focused on providing contract logistics solutions to customers in the Asia Pacific region and operates independently of Li & Fung, with 223 warehouses and distribution centers in 14 countries around the world, with a total floor space of 2.7 million square meters.

For the full year 2020, Li & Fung Logistics' revenue was US$1.3 billion and adjusted EBITDA was US$235 million.

Søren Skou, CEO of Maersk, said, "This acquisition helps strengthen the company's logistics business capabilities in the Asia Pacific region to support our customers in achieving long-term growth in the region, and enhances the company's skills and capabilities in expanding its global contract logistics business."

According to the report, the acquisition will add 223 warehouses to Maersk's existing asset portfolio, bringing its global warehousing facilities to 549, with a total footprint of 9.5 million square meters.

As part of the Li & Fung Logistics acquisition transaction, Maersk has entered into a strategic partnership with Li & Fung to develop a range of integrated global end-to-end supply chain services, with Li & Fung focusing on the upstream supply chain and Maersk focusing on the downstream supply chain, Maersk said. In addition, upon completion of the transaction, Li & Fung's parent company is expected to acquire and continue to operate and build its global freight management business.

Maersk is an integrated container shipping and logistics company that is part of the A.P. Muller Group, according to its website. Dedicated to connecting and simplifying global trade, it employs more than 80,000 people and has operations in 130 countries and territories worldwide.

According to Maersk's third quarter report, Maersk's revenue increased 68% to $16.6 billion in the third quarter, EBIT increased nearly five times to $5.9 billion and EBITDA increased three times to $6.9 billion.

In the ocean freight segment, freight rates continued to be high, with third quarter revenue nearly doubling to $13.1 billion from $7.1 billion a year ago, EBIT up $4.4 billion to $6.3 billion and EBITDA up $4.4 billion to $5.3 billion. Long-term contracts increased to 64% of ocean cargo volume from 50% last year.

Оставить комментарий
All comments are moderated before being published.

Читайте наши Политика конфиденциальности И Условия предоставления услуг .


Похожие статьи

  • FDA and EU expand Mutual Recognition Agreement, again!

    FDA and EU expand Mutual Recognition Agreement, again!

    In 2017, the FDA initiated MRAs with EU and UK, for human drugs. On May 30th, the FDA once again signed an MRA, with 16 EU countries, this time concerning veterinary drugs.
  • Keeping Tabs on Your Kidneys: The Importance of Using a Renal Function Meter

    Keeping Tabs on Your Kidneys: The Importance of Using a Renal Function Meter

    Discovering the significance of maintaining optimal kidney health is crucial for overall well-being. And now, keeping tabs on your kidneys has never been easier with the introduction of the Renal Function Meter. 
  • Exploring the Advantages of Non-Mercury Options

    Exploring the Advantages of Non-Mercury Options

    With the advancement of technology, non-mercury thermometers offer several benefits that make them a superior choice for both personal and professional use. From increased accuracy and precision to faster response times, these thermometers provide reliable temperature readings with ease.
  • Reusable Pregnancy Tests Changing the Landscape

    Reusable Pregnancy Tests Changing the Landscape

    Enter the eco-friendly solution: reusable pregnancy tests. These sustainable, innovative devices are not only shaping the way we test for pregnancy but are also harmonizing with the increasing global emphasis on environmental consciousness.
  • Подписаться MedInsights
  • Подписаться MedInsights
  • Подписаться MedInsights
  • Подписаться MedInsights
  • Подписаться MedInsights