Japan's Nippon Express acquires New York's Associated Global Systems
2012 04 09
- Details
NIPPON Express USA has announced the completion of its acquisition of Associated Global Systems, a global logistics service company based in New York. The move is intended to strengthen Nippon Express' presence in the US.
AGS has been providing logistics service since 1958 and now has 75 US locations and a worldwide network of overseas partners. The company provides warehousing and transport domestically and internationally, handling freight logistics for shipments of any size, including project and over-sized cargo. It transports freight to or from every zip code in the US and postal code in Canada and to 205 countries around the world. It also specialises in home domestic delivery services.
AGS will become a consolidated subsidiary of Nippon Express USA, which is a subsidiary of Nippon Express, a global logistics service provider. The impact of the transaction on Nippon Express consolidated earnings is expected to be non-material, said a company statement, which added that Jim Tucci will continue as CEO of AGS.
Said Nippon Express USA president Kenryo Senda: "With the addition of AGS' freight forwarding services, residential delivery, and e-commerce services, our clients will benefit from Nippon Express expanded service offering in the US."
Source Shipping Gazette - Daily Shipping News
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