Taiwan-based global transportation and logistics specialist Dimerco has formed a joint venture with Elanders.
As part of the joint venture, Dimerco has acquired 25% of Elanders’ subsidiary: ITG Air & Sea.
Dimerco has the option to increase its stake to 49% after two years.
The joint venture will allow ITG to better focus on its operations in the air and sea freight sectors. In addition, it will increase ITG Air & Sea's growth opportunities, as well as enhancing its links to the Asian market.
ITG Air & Sea will continue to be managed by ITG and its parent company LGI.
Holger Funk, ITG's managing director, commented: “We see enormous potential in the spin-off of our air and sea freight forwarding business and the cooperation with Dimerco.”
Dimerco has a strategically-placed global network in China and the Asia Pacific region, and it also has operations in Europe and North America. In total, the company's business covers 160 sites in 16 countries, which generated US$611.84m revenue in 2018.
