CJ Korea Express acquired the largest logistics logistics company in the Middle East and Central Asia. CJ Korea Express announced on the 26th that it acquired management rights by acquiring 51% of IBRAKOM, a comprehensive logistics company with strength in heavy goods logistics.
Founded in 1995, Yves Lacom is the number one logistics company in the Middle East and Central Asia. Heavy goods are bulky and heavy cargoes, which means large-scale petrochemical, drilling, desalination plants, shipbuilding materials such as shipbuilding blocks, and large steel bridge structures.
EbraCom has headquarters in Dubai, 21 corporations in 15 countries, and 630 employees. Last year, the sales amounted to 239.7 billion won, and it is mainly in the Middle East countries such as Dubai, Iran, Iraq, Turkey, Middle East, Turkmenistan and Uzbekistan.
In particular, it is the only company in the region that has a business license covering customs clearance, international logistics and other logistics. It provides W & D (Warehouse & Distribution and Logistics Center) and multinational border service to many global manufacturing companies.
With the acquisition of IbraCom, CJ Korea Express will be equipped with a global heavy-goods logistics system that combines maritime and land-based, and has become a strong player in heavy-load logistics markets in the Middle East and Central Asia, where demand for various plants and construction is high. Yebracom, which has the ability to perform unique logistics in the Middle East and Central Asia, is expected to boost its heavyweight business throughout Asia, Europe and Africa.
Park Geun-tae, CEO of CJ Korea, said, "We are pursuing growth strategies such as mergers and acquisitions and strategic alliances in order to leap forward to become a global top five logistics company. We will also prepare for large-scale M & A activities spanning the US and Europe."
CJ Korea Express has become the largest shareholder on the 26th by acquiring a stake in Dael Logistics, the No. 1 company in the Indian transportation sector. CJ Korea Express has strengthened its 'Pan Asia 1' strategy, which has been promoted to India, the Middle East and Central Asia following the previous China and Southeast Asia. It will be able to visualize the rise of global top 5 logistics companies in the future.
CJ Korea Express has been pursuing global M & A for logistics companies around the world as the only Korean logistics company with the goal of becoming a "Top 5 Global Logistics Company in 2020". In recent years, we have changed our global mission from 'CJ korea express' to 'CJ Logistics' in order to expand our overseas presence and become a global logistics company.
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