A Swiss purchase for Japanese logistics group
Nippon Express is acquiring the Tramo group, a European shipper specialising in luxury furniture markets. The deal is estimated to be worth just over 10 billion yen (USD 68 million). By buying Tramo, Nippon Express aims to boost its competitiveness abroad, as a shrinking population and a shift toward offshore manufacturing cloud the market outlook at home.
Nippon Express will purchase all shares in the 18 companies of the Tramo group, including Swiss-based holding company Tramo.
The Japanese logistics group will tap into Tramo's luxury furniture distribution networks and know-how to serve these clients. It seeks to generate half its revenue overseas by 2037. In return, Tramo is to gain access to Nippon Express's international shipping networks in Japan and other parts of Asia. (mk)