Chinese logistics company EV Cargo, which specialises in supply chain services and freight forwarding, has reached an agreement with the founding family and owner of Spain's Air Express Cargo to acquire 75% of its shares. The Hong Kong-based company thus takes a step further in its rapid expansion in the European market, where the firm already has twenty offices and over 37,000 square metres of warehouses in the Netherlands, Belgium, Germany, Poland, France, Switzerland and Greece.

Air Express Cargo was founded in 2004, and has since then provided both customs agency services and air and sea freight forwarding services to importers and exporters throughout Spain. With offices in Madrid, Barcelona and Valencia, the Spanish company provides its new majority shareholder with access to additional trade routes from Europe to the United States and South America.

A new phase
In the new phase it is now entering, Air Express Cargo will operate under the EV Cargo España brand. Founder and CEO of Air Express Cargo, Francisco de la Cita, will be staying on as head of the Spanish subsidiary, and will retain 25% of the shares.

In its letter of introduction, the Hong Kong-based Asian company highlighted its work in managing supply chains for the world's leading brands. Alongside organic growth, it says it will pursue further strategic M&A deals to achieve its goal of exceeding $3 billion in revenue by 2025.

Boosting growth
For De la Cita, being part of EV Cargo will improve "future prospects for the business in Spain. It will allow us to provide our customers with the high-quality service they’ve always enjoyed, while at the same time being able to offer an expanded range of services, which in turn will create opportunities to develop the business, attract new customers and drive growth”.

Furthermore, the Managing Director of the new subsidiary explained, "EV Cargo's global infrastructure, technological capabilities and international cargo network will create new and immediate opportunities for different trade routes, particularly between Spain and South America".

EV Cargo's Vice President for Europe Marc Terpstra said, "Spain is an increasingly important market for us as we manage supply chains for the world's leading brands, and we look forward to rapidly developing our full service offering in air and sea freight, road transport and contract logistics to serve both new and existing customers”.

^{Photo: Air Express Cargo}