WARSAW's ev Cargo has acquired Fast Forward Freight of Hamburg. aiming to double the firm's annual air freight volumes, reports London's Air Cargo News.
The Warsaw-based company declared the acquisition is part of its previously announced corporate strategy to expand its worldwide footprint.
As a result, EV Cargo has become the sole shareholder of Fast Forward Freight, with the current owners becoming shareholders of EV Cargo.
The deal adds US$170 million of revenue to EV Cargo and grows EV Cargo employees to 2,600 globally, tripling its European workforce to 400 people.
The move will double EV Cargo's air freight volumes to 100,000 tonnes.
EV Cargo will increase its presence in the Netherlands, Belgium, France, Germany, and the UK, and expand into Greece and Switzerland
Fast Forward Freight will be rebranded as EV Cargo and operations will merge.
Said Fast Forward Freight founder Marc Terpstra: 'EV Cargo is focused on providing an innovative technology platform, blending proprietary and industry-leading technology based on a deep understanding of its customers. Fast Forward Freight shares this same focus. Our combination with EV Cargo will provide increased opportunities for our people and expanded solutions for our customers.'
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The Warsaw-based company declared the acquisition is part of its previously announced corporate strategy to expand its worldwide footprint.
As a result, EV Cargo has become the sole shareholder of Fast Forward Freight, with the current owners becoming shareholders of EV Cargo.
The deal adds US$170 million of revenue to EV Cargo and grows EV Cargo employees to 2,600 globally, tripling its European workforce to 400 people.
The move will double EV Cargo's air freight volumes to 100,000 tonnes.
EV Cargo will increase its presence in the Netherlands, Belgium, France, Germany, and the UK, and expand into Greece and Switzerland
Fast Forward Freight will be rebranded as EV Cargo and operations will merge.
Said Fast Forward Freight founder Marc Terpstra: 'EV Cargo is focused on providing an innovative technology platform, blending proprietary and industry-leading technology based on a deep understanding of its customers. Fast Forward Freight shares this same focus. Our combination with EV Cargo will provide increased opportunities for our people and expanded solutions for our customers.'
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