ATN, 1 March 2016 - Supply chain and transport provider Yusen Logistics Australia has bought Australian sensitive freight specialist Hitech Asia Pacific for an undisclosed amount.
The move is part of a recent trend of Australian companies been taken over by larger international names, such as Aramex’s recent buyout of Fastway and Japan Post’s acquisition of Toll Holdings last year.
The acquisition is expected to help diversify Yusen's portfolio into technical services supply chain, including specialised services supporting the medical and business equipment sectors.
Yusen expects the move will increase its total revenue to over $150 million and its number of employees to almost 560.
Hitech will become a new division of Yusen Logistics, with 100 staff, currently working at eight different locations across Australia and New Zealand, retained.
Yusen is confident that the combined company will benefit from a "strong management team and staff with specialist expertise able to provide international freight forwarding services globally, including last mile delivery".