Exel acquires Bodenor and builds upon existing presence in Chile
Exel acquires Bodenor and
builds upon existing presence in Chile
(London, UK – 11 October, 2004) Exel, the global leader in supply chain
management, today announced its acquisition of the logistics business of
Bodenor S.A. of Santiago (Bodenor), one of Chile’s top domestic third-party
logistics services providers.
Whilst financially this is a small acquisition (net assets acquired are less
than US$1 million), strategically it enables Exel to expand relationships with
key customers and further develop its business in the South Cone region
(Brazil, Argentina and Chile). Additionally, Exel secures a platform for
competitively priced shared-user warehousing and transportation solutions in
Chile.
Bodenor provides dedicated and shared-user warehousing services from two
facilities in metropolitan Santiago to more than 40 customers. Since 2002, Exel
has operated a warehouse and freestanding aerosol storage facility in Santiago
on behalf of SC Johnson.
John Allan, Chief Executive, Exel, said, ‘As a smaller market, Chile often
represents a logistics challenge because few companies have the sales volume
needed to support a dedicated solution. Therefore, they seek shared-user
solutions that can create the economies of scale required to achieve a
competitive logistics solution. Now, international companies can concentrate
their business with a single partner capable of managing their respective
supply chains across Latin America.’
Exel’s South Cone customers, especially in the consumer and healthcare sectors,
increasingly require a regional solution merging global strength with local
market knowledge.
‘This strategic move complements our existing distribution network by building
upon the infrastructure of regional distribution centers and merge-docks Exel
has implemented in Brazil,’ said Humberto Florez, Exel’s Senior Vice President,
Contract Logistics, Latin America. ‘Also, Bodenor’s presence in Chile enables
Exel to provide valuable transportation management services in the country by
allowing freight consolidation from the same facility to common customer
destinations.’
-ends-
For more information, please contact:
Exel plc
Duncan Magrath
Director of Investor Relations
and Financial Strategy
+44 7802 636283
Rebecca Salt
Director of Marketing and Communications
+44 7774 679739
