Wallenborn will not go ahead with its previously announced acquisition of a stake in Australia-based Skyroad Logistics.
Road feeder services (RFS) operator Wallenborn said in November that it would acquire a shareholding in fellow RFS firm Skyroad Logistics, though it did not confirm how large a stake it would take at the time.
The company told Air Cargo News on August 21: "Despite the time taken to establish mutual goals and aligned ways of working, the management of both companies have agreed that the intended collaboration and terms of engagement have not materialised as expected and therefore to proceed further at this time is not in the best interests of either party.
"Wallenborn continues to evaluate opportunities for business development in Australia and the Asia Pacific region."
The agreement was due to cover air cargo RFS, express transport and project transport service offerings, and would have enabled Wallenborn to add Oceania to its RFS network, which already provides extensive coverage in Europe and the Middle East.
Melbourne-headquartered Skyroad Logistics was founded in 2015 and has service depots in Sydney and Brisbane. It operates a SkyMAX fleet that links the major airports around Australia.
https://www.aircargonews.net/services/road-feeder/wallenborn-acquires-stake-in-skyroad-logistics/
