Hot on the expansion trail, AustraliaÃ¢â‚¬™s Toll Group, a leading provider of integrated logistics services in the Asian region, has announced the acquisition of three Asian based international express businesses.
Toll has acquired the Asian operations of Deltec in Hong Kong, Singapore and Australia to complement its existing air freight operations in Australia and New Zealand. The Deltec business has multiple product offerings including international express, local point to point courier and mail (international and domestic). Toll has also acquired two additional small businesses in Hong Kong Ã¢â‚¬“ Kwikmail and Skynet (Hong Kong).
Toll said the businesses will be integrated into Toll Priority, which is expanding its Asian based express courier business.
Ã¢â‚¬Å“With annual consolidated revenue of around A$12 million, these acquisitions, in the strategically important hubs of Hong Kong and Singapore, provide a key platform in TollÃ¢â‚¬™s ongoing growth and development in the region,Ã¢â‚¬Â said Paul Little, managing director of theToll Group.
Ã¢â‚¬Å“Hong Kong is the busiest cargo airport in the world and Singapore is the eighth busiest and the busiest in South East Asia so boosting TollÃ¢â‚¬™s presence in these markets is an important advantage for our customers,Ã¢â‚¬Â he added.
Only a week earlier Toll announced it had been awarded a 30-year contract to manage CambodiaÃ¢â‚¬™s railway system which comprises two lines dating back to the 1930s French colonial days, running over 650 km. The first line links the capital, Phnom Penh, to Poi Pet near the border with Thailand, while the second links Phnom Penh to Sihanoukville beach, the countryÃ¢â‚¬™s second-biggest tourist destination.
The rail infrastructure was badly damaged during the countryÃ¢â‚¬™s civil war in the 1970s but a service has continued for both freight and passengers. The Asian Development Bank said in March it would provide a loan of US$42 million to help renovate the railways.