GLOBAL logistics firm Agility says it has signed a conditional agreement to acquire Cosa Freight, a full service ocean freight forwarder with offices in six locations in mainland China and a presence in Hong Kong, USA and Canada.
The company said in a statement that the acquisition will further strengthen its network capability in China and increase the range of services on offer in major trading and manufacturing centres across the country.
Cosa Freight focuses on the trans-Pacific trade by providing services to the retail sector, including origin consolidation/upstream inventory management programmes in China and warehousing, trans-loading, and delivery in the US.
With a staff size of over 200 and six offices in China, Cosa Freight's network is expected to significantly increase Agility's ability to offer customers the services they require.
"We are committed to strengthening our network in China and other strategically important countries in the region and also expanding our range of freight and logistics services throughout the country in order to better meet customer demand. The acquisition of Cosa Freight will help us achieve those goals," said Wolfgang Hollermann, chief executive officer, Asia Pacific for Agility.
James Zhang, president of Cosa Freight, said: "The acquisition by Agility will enable Cosa Freight to expand its outlook on a global scale and focus on much greater growth opportunities. We already have a strong position in China and we will now be able to share and leverage Agility's global network and resources to improve our position and add further capability to serve Agility's customers in China."
Cosa Freight was established in Shenzhen in 1998 and is a licensed freight forwarder and NVOCC, providing local transportation throughout China, bonded warehousing, buyer consolidation services, international freight FCL/CFS services, customs clearance, documentation, inspection and insurance brokerage. Cosa's value-added services include billing, cash collection and banking, kitting, packaging and repacking, and reverse logistics.
The company said in a statement that the acquisition will further strengthen its network capability in China and increase the range of services on offer in major trading and manufacturing centres across the country.
Cosa Freight focuses on the trans-Pacific trade by providing services to the retail sector, including origin consolidation/upstream inventory management programmes in China and warehousing, trans-loading, and delivery in the US.
With a staff size of over 200 and six offices in China, Cosa Freight's network is expected to significantly increase Agility's ability to offer customers the services they require.
"We are committed to strengthening our network in China and other strategically important countries in the region and also expanding our range of freight and logistics services throughout the country in order to better meet customer demand. The acquisition of Cosa Freight will help us achieve those goals," said Wolfgang Hollermann, chief executive officer, Asia Pacific for Agility.
James Zhang, president of Cosa Freight, said: "The acquisition by Agility will enable Cosa Freight to expand its outlook on a global scale and focus on much greater growth opportunities. We already have a strong position in China and we will now be able to share and leverage Agility's global network and resources to improve our position and add further capability to serve Agility's customers in China."
Cosa Freight was established in Shenzhen in 1998 and is a licensed freight forwarder and NVOCC, providing local transportation throughout China, bonded warehousing, buyer consolidation services, international freight FCL/CFS services, customs clearance, documentation, inspection and insurance brokerage. Cosa's value-added services include billing, cash collection and banking, kitting, packaging and repacking, and reverse logistics.