Yusen Logistics acquires Hitech Asia Pacific


The move will help Yusen provide international freight forwarding services globally, including last mile delivery

Yusen Logistics acquires Hitech Asia Pacific
Yusen Logistics Australia MD Ian Pemberton (left) with Hitech CEO Tom Devjak.

 

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".  

"We are very excited about the opportunities Hitech will bring Yusen and the additional services we will be able to offer to our customers," Yusen MD Ian Pemberton says.  

"Hitech’s skills in sensitive freight are highly complementary to Yusen’s international capabilities.

"We will be positioned to deliver top quality logistical and transport services with a fully integrated service combining every aspect of the supply chain.

"Historically, as much as 80 per cent of our business was Japan-centric.

"In recent years, our growth strategy has been to expand our customer base to include Europe and the US, the acquisition of Hitech will allow us to further develop trade with these countries and also open opportunities with the Chinese and Korean markets."

Yusen will also get access to Hitech’s blue chip customers such as Canon, Siemens, GE, Philips and Device Technologies along with new services such as the installation and calibration of medical and business machinery.

"We are delighted to be joining Yusen Logistics," Hitech CEO Tom Devjak says.  

"Hitech will benefit from access to Yusen’s extensive global network including prime airport locations and international freight forwarding capabilities, we will now be able to offer customers seamless global transportation services," Devjak says.

Yusen Logistics is part of the NYK Group which is headquartered in Japan.

Yusen currently has a global logistics network with operations in 38 countries and global warehouse storage of approximately 1.95 million square metres.

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