Kuehne & Nagel completes USCO buy
Kuehne & Nagel completes USCO buy
Updated 1:37 p.m. ET, Tue Jul 24, 2001
JoC ONLINE
Kuehne & Nagel International AG has completed its $300 million acquisition
of USCO Logistics. The deal creates a company with more than 17,000 employees and 600 offices in 90 countries. USCO, based in Hamden, Conn., is one of the largest warehouse-based logistics service providers in North America with more than 15 million-square feet of shared and dedicated space throughout the United
States, Mexico and Canada. The company, which focuses on the pharmaceutical,
retail and high-tech industries, will operate as an integrated service unit
within the Kuehne & Nagel Group.
The companies said that the combination will enable USCO to offer an integrated portfolio of global services, including access to Kuehne & Nagel’s global infrastructure for moving freight, by any mode of transport, throughout the world. Freight forwarding, customs brokerage and logistics customers of Kuehne & Nagel will benefit from USCO’s North American service offerings.
Kuehne & Nagel, of Schindellegi, Switzerland, has dramatically expanded its
global integrated contract logistics capabilities from its strong European
base. Prior to the USCO acquisition, it entered into an alliance with
SembCorp Logistics Ltd., Singapore, extending its logistics operations into
the Asia-Pacific region. (SembCorp holds a 20% investment in the Kuehne &
Nagel.) At the same time, Kuehne & Nagel holds a 5% investment in SembCorp
with the option to acquire an additional 15%.)
