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November 25, 2024 -Monday |
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NIPPON EXPRESS COMPLETES ACQUISITION OF EQUITY INTERESTS IN MD LOGISTICS AND MD EXPRESS (TURNING INTO SUBSIDIARY)
Thursday 03/09/2020
AsiaNet 85374
TOKYO, Sept. 3, 2020 /Kyodo JBN, AsiaNet/ --
Nippon Express Co., Ltd. (Code No.9062, First Section, Tokyo Stock Exchange; hereinafter the "Company") hereby announces that, as announced on May 22, 2020, in the "Acquisition of Equity Interests in MD Logistics, Inc. and MD Express, Inc. (Turning into a Subsidiary)," it has completed the acquisition of entire equity interests in MD Logistics, LLC and MD Express, LLC (together, "MD Logistics") (*Note) through the Company's U.S. subsidiary, Nippon Express USA,
Inc.
(*Note) MD Logistics' trade names were MD Logistics, Inc. and MD Express, Inc. However, as previously announced, the two entities have been reorganized to LLC (Limited Liability Company) as part of the transfer procedure of equity interests.
(Logo: https://kyodonewsprwire.jp/img/202008313651-O1-as4VgcCs)
(Photo1:
https://kyodonewsprwire.jp/prwfile/release/M103866/202008313651/_prw_PI2fl_V7P6n2bG.jpg)
(Photo2:
https://kyodonewsprwire.jp/prwfile/release/M103866/202008313651/_prw_PI3fl_rcgeh2d7.jpg)
MD Logistics, established in 1996, is a domestic logistics provider for the pharmaceutical and retail industries in the United States. MD Logistics' revenue for the fiscal year ending December 2019 was 51 million USD (about 5.5 billion JPY).
The Nippon Express Group is developing a wide range of logistics service systems suitable for the pharmaceutical industry. In addition to investment in warehousing and delivery solutions in Japan in accordance with quality control standards based on the GDP guidelines, the Company is also working overseas to expand logistics facilities that comply with guidelines for the relevant distribution of pharmaceuticals in each country.
Under the internal management system that complies with licensing and guidelines with regards to the handling of pharmaceuticals, MD Logistics provides distribution processing operations such as storage and packing at a range of temperatures from -40C to +25C, proving their strength in tailor-made services that meet the needs of each customer. Furthermore, MD Logistics also provides speedy collection and delivery services that cover the entire United States. With 4 warehouses in Indiana, known as the "Crossroads of America," MD Logistics has attained excellent access not only to land transportation but also to international and domestic air transport. Moreover, another warehouse in Reno, Nevada, enhances accessibility in the western region.
By including MD Logistics into the Group as a subsidiary, Nippon Express acquired domestic logistics functions in the United States, which accounts for about 40% of global pharmaceutical demand and represents the largest consumer goods market in the world. Going forward, the Company looks to provide integrated logistics services by combining the Group's international transportation network to support the globalization of its customers' supply chains.
For more information, please visit:
https://kyodonewsprwire.jp/attach/202008313651-O1-b6MwrwCS.pdf
SOURCE: Nippon Express Co., Ltd.
--BERNAMA |
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