Newsletter #355 (View other news stories)
Barloworld buys Hong Kong-based Flynt
JOHANNESBURG, South Africa
Wednesday, 9 Apr 2008
Barloworld Logistics has acquired Hong Kong-based logistics company Flynt International for USD13 million.
Flynt is a private company that has been operating since 1980. It employs over 130 people, with the majority based in Hong Kong. Other regional offices are located in Beijing, Shanghai and Guangzhou.
The purchase price is subject to final adjustment based on profit and other warranties to be received.
Warren Erfmann, Barloworld Logistics CEO for Middle East and Asia, says Flynt is one of the top privately held freight forwarders in Hong Kong.
"By combining Flynt and Swift activities in the region, we will significantly enhance our ability to provide supply chain solutions to customers in the Middle East, Europe and Africa."
Barloworld announced last month it had bought Dubai-based logistics company Swift Group and its affiliates for USD70 million (Forkliftaction.com News #354).
Paul Stuiver, Barloworld Logistics CEO, says the acquisition forms another link in providing multimodal solutions in the global logistics arena.
Barloworld Logistics is the supply chain management subsidiary of industrial multinational company Barloworld. Barloworld Handling, another subsidiary, is a Hyster forklift distributor.
|
CURRENT NEWS
|
