Toll aiming to make waves in Asia
Fresh from its acquisition and integration of Hong Kong-based BALtrans Holdings, AustraliaÂ¡Â¯s Toll Group is now setting its sights on Asia as it readies itself for substantial organic growth.
June 1, 2008
Australia-based transport and logistics specialist, the Toll Group, has established Toll Global Forwarding to head its forwarding operations in Asia and globally. The Toll Group launched a takeover of BALtrans Holdings Limited on December 20, 2007, a deal estimated to be worth nearly A$365 million (US$313 million). Following the completion of the acquisition in April, BALtrans has since been de-listed from the Hong Kong Stock Exchange and become a wholly-owned unit of Toll Global Forwarding.
The Group has named its director business development, Hugh Cushing as CEO of Toll Global Forwarding and, also as acting CEO of BALtrans. Effective June 1, 2008, Cushing will take over the reins of BALtrans from acting CEO Anthony Lau – one of three founders of BALtrans – who will then onwards act as advisor.
“The Group will have three major areas of focus,” says Cushing. Firstly, Toll will continue to develop its Australia-New Zealand domestic transport and logistics business; and secondly, its Asian logistics business development led by Singapore- headquartered Toll Asia – the rebranded SembCorp Logistics which the Group acquired in 2006. Thirdly, the Group will focus on freight forwarding and international supply chain services led by Toll Global Forwarding, with its headquarters in Hong Kong.