Toll renames SembCorp
Singapore-based SembCorp Logistics, bought by Australia’s Toll for about A$1 billion ($747 million) in March, has been renamed Toll Asia.
The rebranded company has kept its senior management team. The Toll Group said it expects Toll Asia’s revenues to double by 2010
“We intend to grow Toll Asia’s service offering in a number of areas, utilizing Toll Group’s capabilities to expand and enhance intra-Asian logistics and in-country services across the network, said Paul Little, the Toll Group’s managing director.
In a separate development, Little said the company will invest S$100 million ($63.2 million) in the redevelopment of the Loyang Offshore Supply Base, a Singapore logistics hub it acquired in the takeover.
“Our investment is a clear indication of Toll’s long-term commitment to be an active participant in the Asian market,” Little said.
Toll renames SembCorp
