Hong Kong-based Kerry Logistics has announced the acquisition of a majority interest in Turkey’s Asav Lojistik Hizmetleri Anonim Sirketi (ASAV). Kerry said the acquisition will help it gain a major foothold in Turkey and further consolidate its network and capabilities in the region.
ASAV has seven offices in Turkey, including five in Istanbul, one in Bursa and one in Izmir, as well as one in Amsterdam. The company operates a 452,000-square-foot warehouse in Istanbul, combining bonded and non-bonded storage areas, plus a 21,500-square-foot bonded storage warehouse in Amsterdam.
ASAV is one of the largest air forwarders in Turkey in terms of tonnage.
Traffic volumes emanating from Turkey are robust. Flag carrier Turkish Airlines (THY) reported that the combination of cargo and mail carried during the first 10 months of 2019 increased by 9.3% year-on-year, reaching 1.3 million tons.
Freight Fraud Symposium
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Supply Chain AI Symposium
Past the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
Future of Rail Symposium
Reshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
Double brokering. AI deepfakes. Identity theft. Freight fraud is an existential threat to the industry. Get ahead of it.
Rock & Roll Hall of Fame • Cleveland, OH Register NowPast the hype. Join operators, founders, and enterprise leaders figuring out how to deploy AI in supply chain.
The Old Post Office • Chicago, IL Register NowReshoring is rewriting freight demand. Join shippers, rail executives, and government officials to shape the next decade.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now