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Logistics
Japan's Nippon Express acquires remaining shares in Beijing-based unit
Date:2015-08-17 Readers:

Japan's largest international freight forwarder, Nippon Express Co., has acquired the remaining five per cent stake in Nippon Express (China) that was still held by a Chinese partner.


The move is designed to speed up decision-making processes in line with China's rapidly changing logistics landscape, whereby manufacturers are shifting their operations further inland and westwards.


Beijing-based Nippon Express (China) has already been working to adjust to this new paradigm by opening in April two new footholds in the interior cities of Zhengzhou in Henan province and Kunming in Yunnan province, reported Newark's Journal of Commerce.


The company also signed an agreement in June with China's Zhongshi International Logistics Co, whose shareholders include major Chinese carmaker Chery Automobile, to form an alliance to expand its auto-related logistics services.


Nippon Express (China) was established as a 50-50 joint venture with a Chinese partner in 1995, thereafter Nippon bought an additional 45 per cent equity interest in 2008. It employs 1,600 staff and owns 71 trucks to provide air and ocean cargo transportation, plus domestic transport and warehousing.


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