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Indiaexportnews.com

Nippon Express buys Italian cargo firm

  20.02.2013    

A subsidiary of Nippon Express Co Ltd, Nippon Express Europe, has signed an agreement to acquire all the shares of Franco Vago, an Italian logistics provider, which primarily provides freight forwarding and logistics services for high-end fashion brands and other companies, according to the Shipping Gazette. 
Established in 1981 in Florence, the company has offices across Italy and operates in China and the US. In 2011, the company had revenues of EUR176 million (US$234.8 million) and with a staff of 487, according to the UK's Transport Intelligence.
Nippon Express said that with the acquisition it "is seeking to augment our own apparel logistics operations, and to accelerate the development of apparel related logistics operations in growth markets such as emerging countries in Asia and other regions".



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