HONG KONG's Kerry Logistics has announced the completion of the acquisition of its former joint venture, Kerry Salvat Logistics SA through a buyout of the remaining shares from its partner Salvat Logistica.
  Kerry said it entered the Spanish market in 2005, to provide a range of international freight and logistics services including, sourcing and buying from Asia. It also acted as a platform for its Spanish customers to create opportunities to sell their products in Asia, a statement said.
  "In light of the economic downturn in Spain, we are eager to help our customers to reach out to China and other Asian markets. A dedicated Spanish division has been set up by Kerry Logistics in Shanghai to support Spanish brands wanting to expand their sales in China," said Sebastian Bernardo, general manager, of the company in Spain.It added that the increase in investment reflects its long-term commitment and confidence in the Spanish market.

(source:shipping online)