Expansion of Kerry Logistics into Europe
Marking A Significant Step to Become A Premier Global Integrated Logistics Company
25 April, 2002
(Hong Kong, 25 April 2002) Kerry Properties Limited (683 HK) has extended its logistics and forwarding network to Europe through its wholly-owned subsidiary Kerry Logistics Network Limited with the acquisition of a 91% interest in Trident International Limited in the UK. The cost of the acquisition is £7,245,000. The acquisition is the Company’s latest move in implementing its long-term strategic plan of building a global integrated third-party logistics (3PL) network with a solid PRC network.
Expansion into Europe
Trident International Limited was originally co-founded in 1982 as a family run freight forwarding company. It emerged as a Far Eastern import specialist in the 1990’s. Trident has now grown into one of the UK’s largest independent freight forwarding and logistics companies with a turnover of approximately £40m.
Trident has built up a comprehensive range of logistics services and employs 220 staff in three cities with a total of 400,000 square feet of customs authorized warehousing in London and Manchester.
Leading Edge Technology Platform
Backed by the integrated IT systems of Kerry Logistics Network, Trident will provide a web base system for business-to-business clients, such as order placement and processing, order track and trace and inventory enquiries via the web. The system also covers inventory management, warehouse management, transport and distribution management, air and sea freight forwarding and web base logistics.
Global Supply Chain Management Expertise
Expansion into the UK marks a significant step for Kerry Logistics Network to achieve its transformation from a Pan Asian integrated logistics company into a global player. The extension of the logistics network into Europe is definitely an important milestone that further enhances Kerry Logistics Network’s geographical capabilities.
A Complement to Kerry Logistics Network’s PRC Development
In addition to the operations and projects in Beijing, Shanghai and Yantian, Kerry Logistics Network is continuing to build a comprehensive freight forwarding network in the PRC covering Beijing, Shanghai, Tianjin, Qingdao and Shenzhen. Specializing in traffic between the UK and the PRC, Trident will help to boost up the newly established offices within the PRC network immediately, which in turn will help Trident to further penetrate into the lucrative PRC market. With increasing trade between Europe and the PRC, this will augur well for Trident’s business in the future.
More about Kerry Logistics Network Limited
With its headquarters and origins in Hong Kong, Kerry Logistics Network is now operating in 27 cities in 12 countries which include Hong Kong SAR, PRC, South Korea, Thailand, Australia, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Vietnam, USA and UK with approximately 1,000 staff worldwide.
Kerry Logistics Network is currently managing 740,000 square metres of distribution centres in its global network. It provides a full range of integrated logistics services including contract logistics, international freight forwarding, transportation and distribution. Its market segments include chemicals, industrial products, consumer electronics, technology products, food and beverage, top quality brands and retail merchandise, with a client base of over 1,600 accounts of which over 500 are large multinational corporations.
Source: Kerry Press Release