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November 26, 2024 -Tuesday |
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NIPPON EXPRESS CONSOLIDATES THREE GROUP COMPANIES IN ITALY
Friday 17/01/2020
AsiaNet 82553
TOKYO, Jan. 17, 2020 /Kyodo JBN-AsiaNet/--
-Merger Aimed at Strengthening Lifestyle-related Logistics Services-
Three Nippon Express Group companies in Italy--Nippon Express Italia Srl, a Milan-based Italian subsidiary of Nippon Express Co., Ltd., Franco Vago SpA (hereinafter "Franco Vago"), and Traconf Srl (hereinafter "Traconf") --were merged to form Nippon Express Italia SpA (Head Office: Florence; President: Arnaldo Vivoli) on January 1, 2020.
A ceremony was held in Milan on January 15 to mark the merger.
Photo1: Merger ceremony
https://kyodonewsprwire.jp/prwfile/release/M103866/202001155725/_prw_PI2lg_398ZjS2P.jpg
Photo2: Speech by new president
https://kyodonewsprwire.jp/prwfile/release/M103866/202001155725/_prw_PI3lg_qIr812fF.jpg
Purpose of merger
In 2013, Nippon Express Co., Ltd., acquired Franco Vago, which is engaged in apparel-related forwarding operations primarily for luxury fashion brands in Italy, and in 2018 it acquired Tranconf, which is involved in warehouse storage, distribution and other services connected with fashion and lifestyle in Italy and the rest of Europe as well as the U.S. and China, and which, like Franco Vago, has a customer base consisting principally of luxury fashion brands.
The merger aims to accelerate and maximize synergy in sales and operations in one fell swoop and achieve dramatic growth, inclusive of existing Nippon Express Italia Srl, to step up efforts in the high-fashion sector, a priority industry in Nippon Express's corporate strategy, and to make the new company a leading provider of logistics services to the fashion logistics sector.
The merger makes Nippon Express Italia SpA the largest Nippon Express Group company in Europe and the second largest overseas subsidiary after Nippon Express USA, Inc.
Benefits of merger
-A new Lifestyle Division will go beyond high fashion to target lifestyle-related logistics, and the know-how of Franco Vago and Traconf as well as the integrated administration of the Nippon Express Group will be leveraged to expand sales to lifestyle industries.
-Rate competitiveness will be enhanced through joint sorting/collection/co-loading in forwarding and trucking operations.
-The lifestyle business model will be extended horizontally from Italy to the rest of the Nippon Express network, and know-how on forwarding, logistics and trucking operations dispersed among companies will be shared.
Profile of new company:
https://kyodonewsprwire.jp/prwfile/release/M103866/202001155725/_prw_PI1fl_R28hVyl3.png
Effective date of merger:
January 1, 2020
Nippon Express website: http://www.nipponexpress.com/
Official LinkedIn Account: NIPPON EXPRESS GROUP
https://www.linkedin.com/company/nippon-express-group/
Source: Nippon Express Co., Ltd.
--BERNAMA |
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