Kerry Logistics obtains Spanish joint venture
Kerry Logistics has completed its acquisition of Kerry Salvat Logistics S.A., its former Spanish joint venture. The Hong-Kong based 3PL procured the remaining shares of the firm from partner Salvat Logistica, S.A.. Terms of the deal were not disclosed.
Spain has been a key market for Kerry Logistics since 2005, according to a press release. In addition to forwarding significant freight volumes between Spain and Asia, Kerry has provided its Spanish customers with the means to sell their goods in Asia.
Sebastian Bernardo, general manager of Kerry Logistics’ Spanish operations, said the latter merit has been particularly beneficial to clients. “In light of the economic downturn in Spain, we are eager to help our customers to reach out to China and other Asian markets,” he said in a statement.
“A dedicated Spanish division has been set up by Kerry Logistics in Shanghai to support Spanish brands wanting to expand their sales in China,” he continued.
Zhengzhou, China, is another region of interest to the third-party logistics provider. Kerry Logistics will break ground on a 70,000-square-meter warehouse in Zhengzhou in the second quarter of 2012, with the facility slated for completion in early 2013.
The Henan province’s fast-growing economy attracted Kerry Logistics to Zhengzhou, according to a press release. Kerry Logistics expects the facility to harbor high volumes of technological, automotive, industrial and material-science goods, all emerging sectors in the region.