EGL's largest shareholder, the company'sfounder and chief executiveofficer James Crane, along with privateequity company, General Atlantic, havesubmitted a proposal to acquire all ofthe outstanding equity interests of EGLfor $36 per share in cash. Crane is Houston-based EGL'sbiggest shareholder, with 18 percent.EGL's board of directors has formeda Special Committee of independentdirectors to review and evaluate theproposal. However, the company hasmade it clear that no decision has beentaken … [Read more...] about EGL’s CEO bids to acquire the company
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Schenker-Seino, BAX Global merge in Japan
Schenker-Seino Co. and BAX GlobalJapan K.K. said they have completedthe merger between the two organisations.The combined company operatesunder the name Schenker-Seino Co.,Ltd, which will have about 460 employeesat 23 locations throughout Japan. Both companies have been active inthe Japanese market for over 40 years,with an established portfolio of customersacross industries, such as high-tech,automotive, consumer, and chemicals.The services provided by Schenker-Seino include air and sea … [Read more...] about Schenker-Seino, BAX Global merge in Japan
IJS Global enters UK logistics market
IJS Global Inc., the fast-growingmulti-modal freight forwarder, customsbroker and non-vessel operating commoncarrier, has entered the importantUK freight & logistics market byacquiring majority ownership in London-headquartered Lupprians CargoExpress Limited, one of the country'sleading freight forwarding and logisticscompanies. Terms of the transactionwere not disclosed. Lupprians has been re-branded asIJS Global (UK) Limited, and will offerits clients across the UK an enhancedworld-wide … [Read more...] about IJS Global enters UK logistics market
DHL bags Saudi Aramco’s contract
DHL Supply Chain, the logisticsspecialist at Deutsche Post World Net,has concluded a 10-year multi-milliondollarcontract with the world's numberone crude oil producer, Saudi Aramco.DHL has been contracted to developthe oil giant's national logistics infrastructure.This includes the provision,management and operation of fourmaterial distribution centres (MDC) inDammam, Riyadh, Jeddah and Yanbu,of a fleet of vehicles and personnelas well as 14 material service centres(MSC). To implement these … [Read more...] about DHL bags Saudi Aramco’s contract
Forwarders complain about security costs
Freight forwarders and logisticscompanies in the United Arab Emiratesare fretting over high costs of installingmandatory security equipment anddeclining profit margins due to escalatingexpenses. Governments across theworld are introducing new securityregulations to make movement of seaand air cargo safer. Airlines, shipping lines and logisticscompanies are being told to acquire advancedequipment like x-ray machinesand surveillance cameras to ensure thatterrorists do not use global … [Read more...] about Forwarders complain about security costs
SPI acquires customs agency
Swiss Post International (SPI) hastaken over Basel-based customs agency,FM Verzollungs AG. The company already works for SwissPost GLS and handles import and exportcustoms clearance on its behalf. SPI said in a statement that the acquisitionwill strengthen its positionas a leading provider of import andexport services. At the same time, SPIis expanding its capacity to tackle thenew tasks that will arise out of the newCustoms Ordinance. The Ordinance isscheduled to take effect in May … [Read more...] about SPI acquires customs agency
