Schneider Logistics said Aug.31 it will sell its U.S. and Chinese freight forwarding and customs brokerage operations to Norbert Dentressangle, a France-based firm, for an undisclosed sum.
The transaction, expected to close by Oct. 1, affects seven locations in the United States and two in China, said Schneider Logistics. The transaction will not affect Schneider Logistics' other international supply chain operations, including transport operations in the mainland China market, the Green Bay, Wis.-based company said.
In a statement, Chris Lofgren, president and CEO of parent Schneider National, said the soon-to-be-sold operations no longer fit with the company's core business of truckload, logistics, and intermodal services. "The freight forwarding and customs brokerage associates will have great opportunities for growth and success with Norbert Dentressangle," said Lofgren.
All employees at the affected locations will become employees of the French firm, Schneider Logistics said.
Norbert Dentressangle, based in Lyon, was founded in 1979 and in 2009 had revenues of US$3.5 billion. According to its website, it operates 5.3 million square feet of warehouse space, with 6,900 trailers and 8,600 trailers. Its network is almost exclusively concentrated in Europe, according to its website.