October 22 - Rhenus AG & Co. KG has signed an agreement with the Pro-Log Group based in Asia to acquire a majority shareholding in the group. This will enable Rhenus to further consolidate its own network in Asia.
In the past we did not have our own independent services in the air, ocean and distribution divisions in south and south-east Asia," says Uwe Oemmelen, a member of the Rhenus Board. "Through the Pro-Log Group we will also obtain expertise in the third-party logistics field in Asia. As a result, we will be able to offer our customers more comprehensive services there." Rhenus will fully take over the Pro-Log business locations in China and Hong Kong. "We will then have a much stronger Rhenus Logistics Asia-Pacific Ltd as a result," says Uwe Oemmelen.
By taking a holding in the Pro-Log Group, regional turnover for Rhenus will rise by approximately USD50 million and this sum will be generated by almost 600 employees at 19 business locations. Following this acquisition, Rhenus will have its own offices for business operations at 32 locations in Asia.
The Pro-Log Group primarily operates in south and south-east Asia and has its own companies in Singapore, the Philippines, Malaysia, Thailand and India. The company has been a partner for Rhenus Freight Logistics, particularly in the air and ocean divisions, in the past. Pro-Log has been handling significant transportation volumes between Europe and south/south-east Asia for some years. This joint venture will enable Rhenus to strengthen its presence in Asia to a significant degree and will also help develop the market in this region for the Rhenus brand.
Meanwhile, M+R Spedag Group has acquired and will integrate PL Shipping & Logistics Pvt Ltd of India into its group of companies.
There will be no changes in the organisational structure of PL Shipping & Logistics with Ramkumar continuing as managing director and Jayaram as the chief operating officer, with Daniel Richner taking over as chairman. The company will continue to exist under the same name for the next few months and the initial period will be used for the integration of the two organisations. Rhenus says this integration will provide customers and agent partners access to an extended Asian network, enhanced IT capabilities and a wider scope of services.