Third party logistics provider Yusen Logistics has acquired Mitsui & Co subsidiary Transfreight Automotive Logistics Europe for an undisclosed sum.
A Yusen statement said both companies offered expertise in cross-docking, transport and manufacturing plant logistical support and operations, but with complementary regional scope.
Ian Veitch, chief regional officer of Yusen Logistics Europe, said: “This business offers an excellent fit for Yusen Logistics, with shared customers and service offer, but with a regional focus which complements Yusen’s infrastructure.”
The expanded infrastructure from the acquisition is expected to increase Yusen’s existing automotive network capability by adding key network consolidation points in Western Europe, as well as multimodal options between northern and southern Europe.
“In particular, the acquisition boosts Yusen Logistics’ footprint and skill base in northern France, an area where many automotive tier one suppliers and OEMs are located,” said the company.
Yusen Logistics’ automotive network already extends throughout Europe, employing 4,500 people across 78 facilities. It currently handles in excess of 1.3m tonnes of materials a year on behalf of OEMs and tier suppliers in Europe. Yusen Logistics’ global headquarters are in Tokyo, Japan.
In 2015, Penske Logistics announced that it had finalised an agreement to acquire Transfreight North America from the trading and investment giant, Mitsui & Co.
