CMA CGM acquires French forwarding company
CMA CGM Logistics, the supply chain management subsidiary of the French shipping group CMA CGM, has acquired an 80-percent stake in Qualitair & Sea International, a French logistics and forwarding company. Terms of the acquisition were not disclosed.
Based in Roissy, and with offices in Orly, Le Havre, Lyon and Marignane, Qualitair & Sea International provides services in air freight logistics, customs and maritime forwarding. The company was founded in 1986 as an air freight forwarder.
The company's Web site said it had revenues of 42 million euros ($52 million) in 2002 and employs 75 staff.
“With the acquisition, CMA CGM group is pursuing its strategy of strengthening its portfolio of integrated, global logistics services,” the French group said.
In 1991, Qualitair & Sea International helped create the Hi-Tech Forwarder Network.