“K” Line acquires New York forwarder
Japanese carrier 'K' Line said Friday it has bought a 51 percent stake in U.S. logistics company Air Tiger Express.'K' Line said the move was made to expand its own logistics business. New York-based Air Tiger Express, which provides freight forwarding and logistics services, has two subsidiaries in Asia.
'(Air Tiger Express), though medium-sized with around 750 (employees), is a promising company with its strong link to the fast-growing international logistics market in China,' 'K' Line said in a statement.
'K' Line's said its current international logistics business consists of 'K' Line Logistics (which focuses on air and ocean freight forwarding) and Century Distribution Service (which focuses on consolidation).
