SCAN GLOBAL LOGISTICS ANNOUNCES ACQUISITION OF THE HONG KONG FREIGHT FORWARDING COMPANY

It is reported that scan global logistics (SGL), a Danish global logistics supplier, recently announced the acquisition of Sea Air Logistics Ltd., an air and sea logistics supplier headquartered in Hong Kong. The purchase price has not been disclosed yet.

SGL said that Sea Air international will become a member of SGL from July 5, 2022. This acquisition supports SGL's strategic growth plan to further expand its global scale and will strengthen its business that has been fully developed for decades in China Mainland and Hong Kong.

SGL will take over SEA AIR international and further take over its subsidiary Sal logistics Pte Ltd and its freight forwarding business in Shanghai.

Nine months ago, SGL acquired horizon international cargo, a long-term partner of sea and air international. SGL said that with the acquisition of sea and air international again, connecting these businesses is conducive to increasing the commercial synergy between the two sides. Combined with the experience and capabilities of the two companies, it will support further expansion in consumer electronics, technology, pharmaceuticals and healthcare, which are industries with significant growth potential.

In addition, the increase in the market share of intra Asia, far east westbound and trans Pacific eastbound trade routes, coupled with Shanghai Air International's rich experience in cross-border supply chain services, will enable SGL to provide broader and better services to its global customers.

Allan melgaard, CEO of SGL, said, "the acquisition of sea and air international is a match made in heaven for us, which is conducive to the sustainable development of our expanding organization in Asia and around the world. The strategic layout of the office of sea and air international will strengthen our existing settings and strengthen the services of our existing common customer portfolio."

Rickard ingvarsson, CEO of SGL Asia, said, "SEA and AIR international also provides the most advanced inventory management and distribution solutions, and we are happy to add all these additional products to our existing product portfolio。”

The infrastructure of this acquisition will remain unchanged, and 180 employees, including the entire senior management team, will play an important role in the sustainable development of the company. SGL's team will grow to more than 500 employees in Chinese Mainland and Hong Kong.

SGL said earlier that its strategic growth plan will be carried out in an organized manner, and the new acquisition scale will be significantly larger than the previous scale, which is also part of the growth plan. It may acquire companies with revenues of up to $1billion.

According to SGL, Sea Air Logistics Ltd. was established in Hong Kong in 1995. The company has nine offices in Hong Kong, mainland China and Singapore, providing high-level ocean and air freight forwarding and logistics services, including warehousing and distribution. The company is a founding member of the World Cargo Alliance, a global network of independent freight forwarders and logistics experts.