Combining forces on roads in Asia Pacific
Kuehne + Nagel has entered into an agreement to acquire City Zone Express. Established in 2006 and headquartered in Malaysia, the company has over 500 employees and operates 260 vehicles and 80,000 sqm of warehousing space in Malaysia, Singapore, Vietnam, Thailand, and China. The acquisition of City Zone Express is expected to increase earnings immediately and aims to strategically enhance KN's cross-border road logistics service offerings in Asia.
Hansjörg Rodi, member of the management board at Kuehne + Nagel International, responsible for road logistics: "Asia's economies are an attractive area for us to develop our road logistics services in line with our roadmap 2026. With City Zone Express, we acquire a reputable regional player whose network and capabilities ideally complement our own." (ah)