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DP World recently completed the acquisition of Cargo Services Far East Ltd, a Hong Kong-based global supply chain provider
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Cargo Services is a market leader in moving goods from factory floor to customer’s door, employing more than 2,500 people
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With the acquisition complete, plans for full integration over the next few months have been set
DP World recently completed the acquisition of Cargo Services Far East Ltd, a Hong Kong-based global supply chain provider.
Cargo Services is a market leader in moving goods from factory floor to customer’s door, employing more than 2,500 people in China and across Asia, Europe, South Africa, and the US.
DP World now has more than 115,000 employees, spread across 800 locations worldwide. By end-2024, the company will operate more than 200 freight forwarding offices, covering some 95% of global trade flows.
DP World group chairman and CEO Sultan Ahmed bin Sulayem said: “Cargo Services’ logistics expertise and global network perfectly complement our own footprint, and will yet be another tool in our offering to customers.”
Together, he added, “we’ll create a powerful force propelling trade globally.”
Cargo Services Group managing director John Lau said: “By joining DP World, we will gain access to extensive resources and expertise, allowing us to continue delivering top-tier freight forwarding and logistics services that our customers demand.”
With a shared vision and strategy, Lau added, “I am confident that our respective teams will come together seamlessly to deliver growth.”
Cargo Services was founded in 1989 and was one of the earliest foreign logistics service providers to enter the China market. Over the decades, it has established an extensive portfolio of solutions such as origin purchase order management, ocean freight, air freight, and warehousing for a diverse range of sectors, including sophisticated supply chain management services for retail and high-fashion customers in the US, UK, Europe, South Africa, Australia, and New Zealand.
With the acquisition complete, plans for full integration over the next few months have been set. The combined team will put together all required resources to ensure a smooth integration process, prioritizing operational continuity and delivering to meet customers’ needs.
To guarantee a smooth transition, Lau will stay with the business and assume a senior leadership post within DP World.
READ: DP World revenue up 3.3% in 1H
