In a major coup, leading supply chain and global freight forwarder Yusen Logistics has acquired Hitech Asia Pacific – a specialist in end-to-end process management of sensitive freight.
The acquisition will diversify Yusen Logistics’ portfolio into technical services supply chain, including specialised services supporting the medical and business equipment sectors.
Hitech employs 110 staff at eight locations across Australia and New Zealand.
Following the acquisition, the business will become a division of Yusen Australia.
This will increase Yusen’s total revenue to over $150 million and its number of employees to almost 560.
The acquisition will give Yusen access to Hitech’s blue chip customers such as Canon, Siemens, GE, Philips and Device Technologies along with new services such as the installation and calibration of medical and business machinery.
The combined company will benefit from a strong management team and staff with specialist expertise, able to provide international freight forwarding services globally, including last mile delivery.
Yusen Logistics Managing Director Ian Pemberton said: “We are very excited about the opportunities Hitech will bring Yusen and the additional services we will be able to offer to our customers.
“Hitech’s skills in sensitive freight are highly complementary to Yusen’s international capabilities. We will be positioned to deliver top quality logistical and transport services with a fully integrated service combining every aspect of the supply chain.”
Hitech CEO Tom Devjak said: “We are delighted to be joining Yusen Logistics. Hitech will benefit from access to Yusen’s extensive global network including prime airport locations and international freight forwarding capabilities, we will now be able to offer customers seamless global transportation services.”
Yusen Logistics forms part of the NYK Group, which is one of the world's leading transportation companies, headquartered in Japan.
Opportunities with China and Korea
“Historically, as much as 80% of our business was Japanese centric,” said Mr Pemberton. In recent years, our growth strategy has been to expand our customer base to include Europe and the US, the acquisition of Hitech will allow us to further develop trade with these countries and also open opportunities with the Chinese and Korean markets.”
Yusen Logistics was formed in 2011 through the merger of NYK’s freight forwarding business Yusen Air & Sea and its domestic logistics business NYK Logistics. Since then it has grown into a global comprehensive logistics network with operations in 38 countries and global warehouse storage of about 1.95 million sqm.