Independent journal on economy and transport policy
11:52 GMT+2
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Maersk will buy Hong Kong-based LF Logistics for $3.6 billion
The Asian company has about 10 thousand employees
December 22, 2021
The agreement provides that the activities of Global Freight Management of LF Logistics remain at Li & Fung and expects in addition, that the Danish group starts a strategic partnership with Li & Fung to develop logistics solutions.
"With this initiative - explained Vincent Clerc, Managing Director of the Ocean & Logistics division of Maersk - we will increase our storage offer and distribution and we will respond to the rapidly growing needs of contract logistics of our customers».
LF Logistics has about 10 thousand employees in 14 countries of the Asia-Pacific region and has a network of 223 warehouses of the total capacity of 2.7 million square meters. In 2020 the company recorded a turnover of about 1.3 billion of dollars and an EBITDA of approximately 235 million Dollars. For the 2021 financial year, a turnover of one billion dollars and an EBITDA of 250 million dollars.
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