January 29, 2010
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Kawasaki Kisen Kaisha, Ltd.(“K” LINE) is pleased to announce that an agreement has been reached with Air Tiger Express Companies, Inc. (ATEC, US based Logistics Service Provider) for acquiring 51% of ATE’s stake (26% at first, with option for additional 25%). “K” LINE Group has been pursuing enhancement of its Logistics business, and will continue such pursuit in Vision 100 KV2010.
ATEC (head-quartered in NYC) with offices and agents worldwide, is a leading international freight forwarder and provider of integrated logistics services. For over 33 years the company has delivered its customers assets globally, has provided outstanding services that have positively resulted in its customers bottom lines. It’s major subsidiaries are, Air Tiger Express (USA) Inc., Air Tiger Express (Asia) Inc. and Shenzhen Airport ATE Int’l Freight Co., Ltd. ATEC, though medium-sized with around 750 headcounts, is a promising company with its strong link to fast-growing international logistics market in China.
“K” LINE’s current international logistics business mainly consists of “K” LINE Logistics (its major business is Air and Ocean freight forwarding) and Century Distribution Service (its major business is buyer’s consolidation), “K” LINE believes that capital participation in ATEC will bring both enhancement of business area and profit opportunity.
“K” LINE Group will pursue in meeting sophisticated and diversified logistics requirements of customers with high quality service on broad network.
For further information, please contact:
Yasunari Sonobe
General Manager, Corporate Planning Group
Kawasaki Kisen Kaisha, Ltd. ("K" LINE)
Tel: +81-3-3595-5594 Fax: +81-3-3595-5175
