Logistics service providers
DSV acquires UTi Worldwide Inc.
Bremen, 28.01.2016 - With the approval of UTi shareholders and the supervisory authority, the acquisition of the American logistics company UTi Worldwide Inc. by DSV has now been officially completed.
On January 14, the UTi shareholders approved the acquisition by the Danish transport and logistics service provider DSV by an overwhelming majority. The regulatory authorities have now given their final approval and the usual closing conditions have been met - so nothing stands in the way of a merger.
We are proud to welcome UTi's customers and employees to DSV," explains Jens Bjørn Andersen, CEO DSV A/S and continues: "I have no doubt that the combination of the two companies is a recipe for success. With a combined network, we create exciting new opportunities for both our customers and our employees. We will now start the integration process while ensuring that all our customers continue to receive a high level of service. As we move forward, all DSV and UTi business activities will continue under the DSV brand."
The transaction will make DSV the fourth largest freight forwarder in the world - with an expected 50 percent increase in existing revenues. Following the acquisition, DSV:
- 40,000 employees
- 80 countries
- 1,000 offices and logistics facilities
- 4.7 million m² storage capacity
The transaction strengthens the global market position of the DSV Air & Sea Division, making it the
sixth-largest sea freight and seventh-largest air freight service provider
worldwide. In addition, DSV will operate more globally in the area of contract logistics and expand its DSV Road road freight transportation and distribution activities through greater coverage in Europe, North America, Africa and Asia.
In Germany, the company anticipates an increase of 400 employees. The air and sea freight division in particular will be significantly strengthened. In contract logistics, DSV is growing by four additional locations and DSV Road is also expecting a major increase in volume. red
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