Acquires controlling stake in Hong Kong and Singapore based companies, also consolidates its presence in Bangladesh
Mumbai - ECU Worldwide, a global leader in the non-vessel operating common carrier (NVOCC) business and the biggest LCL consolidator worldwide has acquired controlling stakes in Hong Kong and Singapore based logistics companies. Both acquisitions will strengthen ECU Worldwide’s reach in the Asia Pacific region and provide enhanced capabilities to support customers’ needs better.
“These acquisitions are key to ECU Worldwide gaining strategic leverage and expanding its LCL outreach in the Asia-Pacific region. With these additions to the ECU Worldwide portfolio, our position has become stronger in one of the strategic markets. These acquisitions continue to be in line with our vision of becoming a global leader in the LCL business and be known for pioneering solutions in logistics, worldwide,” stated Shashi Kiran Shetty, Chairman, ECU Worldwide.
The Hong Kong based acquisition will enable ECU Worldwide gain crucial access to 50 export trade lanes and 20 import services. In addition, ECU Worldwide will also be able to expand its product offering and make inroads by connecting the Asia Pacific region with Europe. Singapore-based entity provides world-class DG warehousing capabilities. Together, both companies offer an expansive business presence in vital trade routes. This enables ECU Worldwide to strengthen its regional presence in the key markets and gain a larger LCL market coverage.
In addition, by acquiring management control in its local subsidiary, ECU Worldwide has also strengthened its presence in Bangladesh, one of the fastest growing economies. This will enable ECU Worldwide to bring in greater synergies from its global operations to provide world-class freight solutions in ocean and air, along with specialized logistics solutions to customers in Bangladesh. ECU Worldwide, with its global leadership in NVOCC services and presence in 2400+ trade lanes, is well-placed to connect Bangladesh to other countries.
ECU Worldwide is the global leader in LCL consolidation with presence in 160+ countries. These additions to the company’s portfolio will add to the expertise and knowledge in providing world-class logistics solutions globally to the customers. Backed by a legacy of three decades, ECU Worldwide brings in-depth knowledge of local markets and world class standards in logistics to deliver cargo efficiently.