Freight firm merger cemented in Hong Kong

Overseas Group and Globe Express Services have announced the merger of the two companies, commemorated at a March 20, 2010 signing ceremony in Hong Kong.

These two privately held freight forwarders, each with longstanding operating histories, mature corporate office networks and diversified client bases, are joining forces to expand their global capabilities, build economies of scale and leverage best practices across their organisation.

The newly combined company will retain the management teams from both organisations.

Gilbert Khoury, president of Overseas Group, said: “very little overlap exists within our companies, each with its own unique areas of expertise both in terms of business segments and trade lanes served, along with geographic presence. Leveraging these non-competing strengths will enable the combined company to rapidly build size and scale, expand its corporate network and thus better serve its clients.”

Overseas Group’s forte is US exports to Europe and the Middle East, while Globe Express Services has historically focused on Asian imports to the US.

 
(Source: Cargo News Asia)