DSV’s acquisition of UTi Worldwide Inc. has been completed with the approval of UTi shareholders and competition authorities.
“We are proud to welcome customers and employees of UTi to DSV. I have no doubt that the combination of the two companies is a recipe for success; and with our united network, we will create exciting opportunities for both customers and employees. We will now start the integration process while taking care to maintain a high service level towards all customers. As we move forward, the commercial activities of DSV and UTi will continue under the DSV brand,” Jens Bjørn Andersen, CEO of DSV, said in a press statement.
In the Philippines, air and sea cargo volumes and job files will grow by at least 50% while storage space will more than double.
The transaction makes DSV the fourth largest freight forwarder in the world by adding about 50% to DSV’s existing revenue. In addition, the enhanced DSV has a more diversified geography and business mix as well as more than 40,000 employees in 80 plus countries, more than 1,000 offices and logistics facilities, and 4.7 mill. warehousing m2.
“The transaction has significantly strengthened our global market position within our Air & Sea Division, making us the world’s sixth and seventh largest operator within ocean and air freight, respectively. It also adds a global scale to our contract logistics division, Solutions, and expands our road freight and distribution activities to cover Europe, North America, Africa and Asia,” the company said.
