Hong Kong player goes shopping in Spain
EV Cargo, a Hong Kong-based global forwarder, is investing in Europe. The company has acquired 75% of the shares of Spain’s Air Express Cargo from its family of owners. Air Express Cargo was founded in 2004, operates from Madrid, Barcelona and Valencia, and is active in air and sea forwarding and customs brokerage services in Spain.
EV Cargo has thus broadened its international footprint, which already features 20 offices and more than 37,000 sqm of warehousing space in the Netherlands, Belgium, Germany, Poland, France, Switzerland and Greece. EV Cargo aims to reach revenues of USD 3 billion by 2025, through organic growth and strategic M&A activities.
In March this year it acquired Fast Forward Freight, a business from the Netherlands, adding significant expertise in industry sectors such as automotive, marine engineering and aerospace that represent considerable growth opportunities for the firm. (sh)