Release Date: 06 October 2008
Release ID: 1534
Ryder System Inc last week announced that it had reached an agreement to acquire substantially all the assets of Transpacific Container Terminal Ltd (TCTL) and CRSA Logistics Ltd (CRSA).
The US-based global provider of supply chain, warehousing and transportation management solutions said it was also acquiring CRSA operations in Hong Kong and Shanghai, China. It added that the acquisition deal was expected to be finalised in late November and was subject to closing conditions.
Ryder explained that CRSA Logistics operated as a leading provider of transpacific end-to-end transportation management and supply chain services for Canadian retailers, while TCTL operated a Canadian network of off-dock import/export container terminal facilities.
"This strategic acquisition would add complementary solutions to Ryder's capabilities, including consolidation services in key Asian hubs, as well as deconsolidation operations in Vancouver, Toronto and Montreal. Additionally, the acquisition would increase Ryder's presence in the Canadian retail sector," stated Ryder.
Once the acquisition was finalised, continued Ryder, Doug Stewart, President of TCTL and CRSA Logistics, and David Seath, Vice President of CRSA Logistics, would continue to lead the Canada-based and Asian operations as part of Ryder's management.
Headquartered in Port Coquitlam, British Columbia, TCTL provides drayage, transloading, import deconsolidation, export consolidation, warehousing, intermodal and other 3PL services in Canada. The company has facilities in Vancouver, Toronto and Montreal, and service relationships with the Canadian National and Canadian Pacific railroads.
Headquartered in Port Coquitlam, British Columbia, CRSA Logistics provides end-to-end logistics visibility, programme management and vendor coordination for the members of the Canadian Retail Shippers' Association (CRSA).
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