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Schenker will in January take over the operations of its partner in the Philippines for nearly 20 years, CPI Transport, as well as integrating the activities of BAX Global in the country.
No financial details of the deal with CPI were disclosed.
CPI has 180 employees providing local and international air freight and sea freight forwarding, as well as project business, household removals, warehousing and brokerage. BAX Global has been operating its own offices in the Philippines since 1995, and is active in international freight forwarding as well as supply chain management.
The enlarged company will have a workforce of more than 500 and revenue of more than PHP 3 billion (about $60 million), according to Schenker.
“This is another very important step forward for the Asia Pacific organization of Schenker, to have a comprehensive owned network in all markets,” said Karl-Heinz Matthes, Schenker’s regional director, Asia Pacific, and chief executive officer Asia Pacific of the joint Schenker and BAX organization.
Schenker is a part of DB Logistics, the transportation and logistics division of Deutsche Bahn AG.
Schenker to take over CPI as part of Philippines consolidation
