DANISH shipping giant Maersk, lately diversifying into air freight, has announced the closing of the acquisition of major air forwarder Senator International, said a maersk press release.
Maersk said it plans to have a third of the annual air tonnage carried within its own controlled freight network, through a combination of owned and leased aircraft.
'Senator brings with it a strong organisation and a well-developed air freight network comprising own controlled flights and long-term partnerships with best-in-class airlines, a well-established full container load (FCL) and less than container load (LCL) network and specialized services such packaging, warehousing and distribution across five continents,' said Maersk.
The acquisition will enable Maersk to offer a wider range of services and the ability to provide flexible and integrated logistics solutions to our customers, allowing them to speed up or slow down cargo depending on their needs, said the company statement.
Said Maersk ocean and logistics chief says Vincent Clerc: 'With Senator, we are ramping up our air freight capacity, network and know-how.'
The enterprise value of the transaction on a post IFRS 16 basis is US$644 million as announced on November 2 assuming unchanged FX rate.
Said Senator International CEO Tim-Oliver Kirschbaum: 'By joining Maersk, our customers will have access to a broader portfolio of products for their business needs and provide them with a single point of contact. It's a perfect match.'
SeaNews Turkey
Maersk said it plans to have a third of the annual air tonnage carried within its own controlled freight network, through a combination of owned and leased aircraft.
'Senator brings with it a strong organisation and a well-developed air freight network comprising own controlled flights and long-term partnerships with best-in-class airlines, a well-established full container load (FCL) and less than container load (LCL) network and specialized services such packaging, warehousing and distribution across five continents,' said Maersk.
The acquisition will enable Maersk to offer a wider range of services and the ability to provide flexible and integrated logistics solutions to our customers, allowing them to speed up or slow down cargo depending on their needs, said the company statement.
Said Maersk ocean and logistics chief says Vincent Clerc: 'With Senator, we are ramping up our air freight capacity, network and know-how.'
The enterprise value of the transaction on a post IFRS 16 basis is US$644 million as announced on November 2 assuming unchanged FX rate.
Said Senator International CEO Tim-Oliver Kirschbaum: 'By joining Maersk, our customers will have access to a broader portfolio of products for their business needs and provide them with a single point of contact. It's a perfect match.'
SeaNews Turkey
