Singapore-based APL Logistics has signed an agreement with Legend Holdings and Beijing Willway Information Technology to acquire their shares in APLL-Zhiqin Group, a Chinese joint venture partnership among the three parties.
The buy-out will accelerate APL Logistics’ plans to expand its logistics hub management and domestic distribution capabilities in support of China’s fast growing domestic economy.
APLL-Zhiqin offers services in logistics hub management, domestic land transportation, supply chain technology services, customs brokerage, import and export management, and supply chain consulting. The joint venture manages hub facilities in more than 20 locations and a broad transportation and distribution network covering over 2,000 locations in China, including third and fourth tier cities.
“We’re witnessing continued growth in China’s domestic market, where both APL Logistics and APLL-Zhiqin have enjoyed a fruitful partnership over the past decade,” said APL Logistics vice president of North Asia Danny Goh. “The acquisition enables APL Logistics to further deepen and broaden its investment in the business and to continue to build on APLL-Zhiqin’s scale, reach, capabilities and strengths.”
In China since 1989, APL Logistics is among the largest providers of international freight management and pre-distribution logistics services out of the country today. Post acquisition, the company will combine with APLL-Zhiqin to offer a service network of 78 offices and facilities across China, thereby providing a comprehensive suite of supply chain capabilities.
