Newsletter #364 (View other news stories)
Freight provider expands presence in Oz
AUCKLAND, New Zealand
Thursday, 12 Jun 2008
 Mainfreight's Group MD Don Braid. |
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New Zealand-based supply chain provider Mainfreight Limited has signalled its intention to acquire Halford International, an Australian-based international freight forwarder and logistics provider for around AUD21 million.
The company this week signed a call option deed to acquire all of Halford’s shares, which may be exercised at Mainfreight’s sole discretion.
The deal, expected to be completed during July 2008 pending certain closing conditions, will boost Mainfreight’s presence in the Australian freight forwarding sector.
Halford International has six branches within Australia and New Zealand, and a network of international agents throughout the world, including Japan, Germany, Asia and the United States of America.
Mainfreight believes that this transaction will provide it with a strong foundation for
further growth in the Australian international freight market, which is consistent with its strategies expressed to the market over the past 12 months.
Recently, the company reported its financial results, recording a total net surplus for the year of NZD101.62 million, which included abnormal gains of NZ60.54 million (Forkliftaction.com News #363).
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