Toll to acquire full ownership of Chinese operation
Australian group Toll, one of the Asia regionÃ¢â‚¬™s leading providers of integrated logistics, has announced it has reached an agreement with China Merchants Group to acquire all the remaining 49 per cent of shares in Shenzhen-based ST-Anda Logistics. ST-Anda has an extensive logistics network across mainland China with warehouses and depots in more than 30 […]
June 1, 2009
ST-Anda has an extensive logistics network across mainland China with warehouses and depots in more than 30 cities and a distribution network reaching over 1,500 cities across the country, according to Toll.
Ã¢â‚¬Å“Moving ST-Anda to a wholly-owned subsidiary will give Toll the opportunity to better integrate our operations within China and to off er a more seamless total logistics solution to our existing customers both within China and in a global setting,Ã¢â‚¬Â said Toll managing director Paul Little.
Ã¢â‚¬Å“The Toll Group has for some time considered our Chinese logistics operations to be of strategic significance to TollÃ¢â‚¬™s international business. We now have operations in over 50 countries globally and China is a critical element of our growth strategy.Ã¢â‚¬Â
Among TollÃ¢â‚¬™s key clients in China are FMCG manufacturers like Colgate Palmolive and Johnson & Johnson. Th e deal follows closely on the heels of TollsÃ¢â‚¬™ acquisition of an equity stake in India-based BIC Logistics a week earlier.