Global transportation provider Yusen Logistics Inc. has moved to strengthen its network of European automotive parts and equipment handling by acquiring Transfreight Automotive Logistics Europe Ltd., the companies said Feb. 2.
Terms of the deal were not disclosed.
Netherlands-based Yusen Logistics (Europe) BV plans to take advantage of London-based Transfreight's "complementary regional scope" to expand its market, Ian Veitch, chief revenue officer of Yusen Logistics Europe, said in a release. The acquisition could also benefit both organizations' capabilities in cross-docking, transportation, and manufacturing plant logistical support and operations, Veitch said.
Yusen will use the deal to expand its existing automotive network capability by adding network consolidation points in Western Europe, as well as multi-modal possibilities running between Northern and Southern Europe, the company said. Yusen particularly plans to target this expansion for Northern France, a key region for tier-one automotive suppliers and original equipment manufacturers (OEMs).
Yusen Logistics currently handles annual loads of more than 212 million cubic feet by volume or 1.3 million tons of materials by weight on behalf of OEMS and tiered suppliers in Europe, the company says.