DSC Logistics, a leading US-based logistics and supply chain management company, has announced its intent to transfer majority ownership to CJ Logistics, a global logistics supplier based in Korea.
The transaction is expected to close in the third quarter of 2018, pending regulatory and customary approvals.
DSC Logistics’ senior leadership will remain in place, with CEO of DSC Logistics, Ann Drake, remaining as Chair of the Advisory Board and retaining minority ownership.
Drake commented: “CJ Logistics is the right fit, at the right time.
“CJ shares our passion for dynamic supply chain leadership and will provide a global platform for DSC, while DSC will provide a platform of expertise, capabilities and leadership in the US.”
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Keun Tae Park, President of CJ Logistics said: “Following our market expansion into China and Southeast Asia, we are pleased to join forces with DSC Logistics in the US.
“We look forward to combining our technical capabilities and network to create synergies and to become a market leader in US logistics, especially in the W&D (warehousing and distribution) space.
CEO of CJ America, Pious Jung, said: “Together with DSC Logistics, CJ looks forward to maximizing customer value and being the preferred global SCM innovator partner in the US.
“We have a shared vision to become a top-5 global logistics company.”