A leading freight-forwarder based in Taiwan yesterday said it would seek mergers and acquisitions, alongside establishing alliances with Asian peers to further boost its growth momentum.
In the long run, THI Global Holdings Corp (台驊國際投資控股) said it would like to transform itself into a global integrated logistics group with a brand power in Asia comparable to that of FedEx Corp, UPS Capital Corp and Deutsche Post DHL in the US and Europe.
“Expansion through potential mergers and acquisitions, and joint ventures with Asian partners will be a major driver for the company’s consolidated sales,” THI chairman David Yen (顏益財) told a media briefing in Shanghai yesterday after celebrating the company’s 30th anniversary on Wednesday.
Eyeing the potential of the trade logistics sector in China, firms in wholesales and express delivery will be the most desirable merger and acquisition targets for THI Global, Yen said.
Earlier this month, the company announced plans to acquire a Chinese wholesale and shipping company for 63 million yuan (US$10.29 million). The deal is expected to be closed in the first quarter next year, helping THI Global gain a wholesale space of 60,000m2, with its number of delivery cities in China increasing to more than 400, Yen added.
Other than the planned scale expansion, Yen said sustainable operation would be an important concept for THI over the next 10 years.
The company is to launch a plan to have younger management staff in the next three years, promoting supervisors in their 30s and 40s to “introduce more new thinking,” in line with strategies adopted by other major logistics firms in China, he said.
Consolidated sales might reach NT$10 billion (US$322.9 million) this year, after THI Global’s cumulative revenue for the first 10 months reached NT$7.82 billion, an increase of 13.54 percent over the same period last year, its statistics showed.
THI Global aims to make annual revenue break the NT$100 billion mark in the next seven to 10 years, more than a 10-fold increase from its current level, Yen said.
To fund its future expansion and investment, THI Global might raise capital on the over-the-counter GRETAI Securities Market next year, as well as seek to list on the securities market in China over the next five years, Yen said.
Yen said the company might list one of its business units in China as the first step toward an initial public offering, with the listing company and schedule to be decided later.
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