Agility finalises deal for Chinese cargo firm
Agility is planning to expand its Chinese operations after signing a conditional agreement to acquire Shenzhen-based ocean cargo company Cosa Freight.
The partnership will allow Agility to leverage Cosa Freight's network of six offices throughout China, together the company's additional bases in Hong Kong, Canada and the United States.
"We are committed to strengthening our network in China and other strategically important countries in the region, while expanding our range of logistics services to better meet customer demand," said Wolfgang Hollermann, Agility's CEO for the Asia Pacific region. "The acquisition of Cosa Freight will help us achieve those goals."
Cosa Freight claims a particular strength in trans-Pacific trade and provides a full range of services to the retail sector, including origin consolidation/upstream inventory management programmes in China and warehousing, plus trans-loading and delivery in the United States.
"Cosa Freight adds first-class capabilities to Agility in China and is an excellent fit to our existing network," added James Gagne, Agility's CEO for the Greater China area. "Their ability to provide multi-country consolidation and value-added services, such as direct-to-store programmes, for customers in the USA will allow us to further strengthen and extend our product offerings."
Established in 1998 in Shenzhen, Cosa Freight provides local transportation throughout China, plus bonded warehousing, customs clearance and insurance brokerage.
"The acquisition by Agility will enable Cosa Freight to expand its outlook on a global scale and focus on much greater growth opportunities," said James Zhang, president of Cosa Freight.
"We already have a strong position in China and we will now be able to share and leverage Agility's global network and resources to improve our position and add further capability to serve Agility's customers in China."