BOOKMARK
  • Korean|
  • Chinese|
  • Japanese|
  • Vietnamese
본문내용 바로가기

Aju Business Daily

SEARCH
  • ECONOMY
  • ENTERTAINMENT
  • IT
  • South Korea
  • North Korea
  • WORLD
  • SPORTS
  • LIFESTYLE
  • AUTO MOTIVE
  • OPINION
  • PEOPLE
  • MILITARY
Home > Business > article

S. Korea's CJ Logistics announces deal to acquire U.S. logistics firm DSC

Lim Chang-won Reporter(cwlim34@ajunews.com) | Posted : June 8, 2018, 10:14 | Updated : June 8, 2018, 10:14
  • 트위터
  • 페이스북
  • 웨이보

[CJ Logistics]


SEOUL -- CJ Logistics announced a deal Friday to buy a U.S. logistics company as the arm of South Korea's food and entertainment conglomerate CJ Group seeks to become a market leader through acquisitions and mergers, especially in Asia and North America.  

CJ Logistics said in a regulatory filing that it would buy a 90 percent stake in DSC Logistics for 231.4 billion won ($216 million). The acquisition will be completed on November 15. The company hopes to become a top-tier logistics firm in the U.S. market through the acquisition of DSC Logistics.

"Following our market expansion into China and Southeast Asia, we are pleased to join forces with DSC Logistics in the US," CJ Logistics President Park Keun-tae said in a statement, adding his company would combine its technical capabilities and network to become a market leader, especially in warehousing and distribution.

The CJ group has sought aggressive expansion since chairman Lee Jay-hyun came back to his office in May last year after four years of absence. It has subsidiaries specializing in food, food service, pharmaceutics, biotechnology, entertainment, media, home shopping and logistics.

In April, CJ Logistics forged a strategic alliance with Vietnam's low-cost carrier Vietjet Air to cooperate in air logistics.

"CJ Logistics is the right fit, at the right time," DSC Logistics Ann Drake was quoted as saying. "CJ shares our passion for dynamic supply chain leadership and will provide a global platform for DSC, while DSC will provide a platform of expertise, capabilities and leadership in the US."
 
 

  • Lim Chang-won Reporter
  • email : cwlim34@ajunews.com
© Aju Business Daily & www.ajunews.com Copyright: All materials on this site may not be reproduced, distributed, transmitted, displayed, published or broadcast without the authorization from the Aju News Corporation.
  • twitter
  • facebook
  • weibo
  • link copy
  • LIST
  • TOP

Related news

  • .SK Telecoms broadband subsidiary agrees to acquire cable TV operator.
    SK Telecom's broadband subsidiary agrees to acquire cable TV…
  • .Mobile carrier LGU+ signs deal to acquire top cable channel operator.
    Mobile carrier LGU+ signs deal to acquire top cable channel …
  • .Comedy film Extreme Job garners over 10 mln moviegoers .
    Comedy film 'Extreme Job' garners over 10 mln moviegoers
  • .CJ E&M promises to make announcement later on proposed deal with LGU+.
    CJ E&M promises to make announcement later on proposed deal …
  • .Gut-busting comedy film Extreme Job tops S. Korean box-office.
    Gut-busting comedy film 'Extreme Job' tops S. Korean box-off…

Real Time Photo News

  • .SM Entertainment agrees to set up joint venture with Indonesian media company.

    SM Entertainment agrees to set up joint venture with Indonesian media company

  • .Girl band AOAs Seolhyun stars in cable TVs historical period drama .

    Girl band AOA's Seolhyun stars in cable TV's historical period drama

  • .BTS becomes first K-pop band to go on global stadium tour.

    BTS becomes first K-pop band to go on global stadium tour

  • .Rookie girl band ITZY drops dance practice video for debut song.

    Rookie girl band ITZY drops dance practice video for debut song

  • .S.E.S. member Shoo gets suspended jail term for habitual gambling.

    S.E.S. member Shoo gets suspended jail term for habitual gambling

Latest News

more+

  • SK Telecom's broadband subsidiary agrees to acquire cable TV operator
  • SM Entertainment agrees to set up joint venture with Indonesian media company
  • LGU+ to demonstrate 5G smart factory solutions at MWC in Barcelona
  • SK hynix selects place to build world's biggest microchip cluster
  • Samsung's foldable phone demonstrates new technology in display
Aju Business Daily
  • ABOUT US
  • CONTACT US
  • PRIVACY STATEMENT
  • Copyright Policy

Address : Aju News Corporation LEEMA Building, 11th floor, 42, Jong-ro 1-gil, Jongno-gu, Seoul.    Mail : swatchsjp@ajunews.com

Copyright ⓒ 2016 By Ajunews Corporation, All Rights Reserved.

Mobile view