Toll acquires UAE's Logistics Distribution Systems

INTEGRATED logistics services provider, the Toll Group, has announced in a statement to the Australian Stock Exchange that the company has acquired Logistics Distribution Systems (LDS), a private international freight forwarding company in the United Arab Emirates (UAE) for an undeclared amount.

Dubai-based LDS provides international sea and air freight forwarding services from its operational platform in Dubai and the Jebel Ali Free Zone. LDS also provides transport and logistics services to its freight forwarding customers within the UAE.

LDS serves the import, export and trans-shipment requirements of retail, trading, industrial and infrastructure customers throughout the UAE, with strong volumes in European and Asian trade lanes, the Toll statement said.

"The Middle East and in particular the UAE is a key strategic market for Toll Global Forwarding (TGF). The acquisition of LDS enhances our existing operations in the Middle East and is consistent with our growth strategy," said Toll Group's managing director, Paul Little.

"The capability and positioning of LDS as a quality freight forwarder in the trade lanes between Dubai and Europe/Asia Pacific is attractive to Toll, and when combined with our existing operations helps to secure a global trans-shipment hub for freight movements between Europe and Asia for TGF."

LDS is said to currently generate revenues of approximately AUD50 million (US$45.94 million), with 60 per cent of the revenue generated from air and sea freight forwarding and the balance from customs clearance and other logistics services.

Source: www.schednet.com