Rapid growth for UCI Logistics
UCI Logistics, the subsidiary of global shipping line, NYK, has announced that its revenues grew by 27% in 2002. In what was a successful year for the company, it expanded its operations throughout Europe and eastern Europe. Revenues in 2002 reached £70m (€146m).
The company was able to substantially extend its relationships with many of its key clients. Eight of its top ten clients increased their logistics spend with UCI by at least 18%. This included Ford’s Premier Automotive Group (including Jaguar), Tesco and Toyota. It also reported new business with Aston Martin and Bosch. The company predicts that high levels of growth in the region of 15-20% will be maintained throughout 2003.
Over the past few months UCI’s parent company, NYK, has made major investments in the European logistics industry. In January the company set up a new organization in Europe, NYK Logistics, as part of a global lead logistics operation. Last month (April), UCI Logistics’ sister company, New Wave Logistics, acquired two companies in Europe and announced a major new deal with warehouse provider Prologis.
Logistics has become a strategic part of NYK’s development. In December 2002 it committed itself to an ambitious plan with the stated aim of achieving the continuous growth of the group as a comprehensive logistics service provider without confining itself to shipping. As such investment is likely to continue in all NYK’s logistics subsidiaries throughout Europe.
