NYK to merge United Kingdom logistics subsidiaries
NYK will on April 1 merge its two British logistics subsidiaries, NYK Logistics (UK) Consumer & Retail Ltd. and NYK Logistics (UK) Manufacturing & Retail Ltd. under the new name of NYK Logistics (UK) Ltd.
The newly consolidated company will become NYK’s largest overseas logistics subsidiary with annual sales of about '300 million ($520 million) and a staff of 4,500. The new company will be headquartered in Northampton, located in the midlands of England.
“The two logistics companies grew rapidly and developed into businesses that were complementary in terms of the markets they serve, their resources, and their infrastructure. Nevertheless, in order to have the critical mass and capacity to offer wider service possibilities and a better ability to share areas of best practice through efficient management, the two firms will be integrated,” NYK said in a statement.