LEO Global Logistics Pcl. (LEO), Thailand’s leading total logistics services provider has recently acquired World Air Logistics, an airfreight logistics services provider, by establishing a new joint venture company. LEO will hold at least a 75 percent stake in the company, at an equity value of THB 275M.
Mr. Kettivit Sittisoontornwong, Chief Executive Officer of LEO, revealed that the international freight forwarder World Air Logistics (WA) acquisition is part of LEO’s plan to expand its international airfreight logistics trade and network. LEO saw an opportunity to invest in a company with substantial future growth potential, which can help broaden LEO’s network of clients and business partners, as well as boost future profits and achievements.
The partnership with WA will strengthen LEO’s airfreight business network. WA has been operating in the logistics industry for 18 years, during which time the freight forwarder has accrued more than 50 reputable airline partners. WA’s extensive connections will contribute to LEO’s ability to generate revenue and reduce costs.
Additionally, WA’s footprint in the retail and wholesale markets will not only expand but also diversify LEO’s customer base, leading to the continuous and sustainable growth of LEO’s air freight forwarding business, as well as the company’s wider scope of operations, which can more comprehensively and effectively respond to customers’ demands.
“Due to the nature of WA’s operations, this acquisition is expected to help LEO grow its air freight business exponentially, as air freight is the main source of WA’s income. LEO’s main income, on the other hand, currently comes from sea freight services. This transaction will increase LEO’s overall air cargo volume by 100 percent or more than 10,000 tons per year. It is a good opportunity through which we can strengthen our business, create a long-term strategy to achieve our revenue’s growth goals, and expand our network of partners,” said Mr. Sittisoontornwong.
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