NX Group completes cargo-partner share acquisition
Nippon Express Holdings (Nx Group) has followed up on the agreement from May 12, 2023, and acquired all shares of several cargo-partner units based in Central and Eastern Europe. The acquired units provide logistics services worldwide on January 4, 2024, through a Nippon Express Europe unit. Furthermore, Nippon Express Holdings completed all the procedures required to make these newly acquired companies subsidiaries of Nippon Express Holdings.
Headquartered in Austria, cargo-partner has a robust logistics business base in Central and Eastern Europe. The subsidiarisation of cargo-partner will complement the NX Group’s logistics infrastructure in Central and Eastern Europe, expected to see significant future growth as a production base within the European region. It will also enable the NX Group to further expand its global network and enhance the services it provides in the European region.
The increase in air and ocean freight volume will give the group a competitive edge in the global market. This growth will enable the group to meet the varied demands of its global customers, enhance its logistics capabilities between Asia and Europe, and expand its global account structure.
Since the NX Group and cargo-partner have differing customer bases and differing strengths in specific countries and regions, they will seek to create synergies in their logistics operations through mutual complementation, thereby accelerating the expansion and development of their global businesses.