newstodate.aero
May 12, 2015 (newstodate): The take-over of the Danish logistics company Prime Cargo by the Japanese Mitsui-Soko Group, announced yesterday, did take the industry by surprise.
-We are aware that Mitsui-Soko has been talking to other parties in their search for a partner to realize their plans for a European expansion, so were are very encouraged by having been selected, says Morten Nielsen, Prime Cargo CEO.
-On our side, it has been clear to our Danish owners that sustained growth by Prime Cargo would require seeking new owners outside the Scandinavian environment, and in this perspective our new Japanese owner is a prime choice.
-So far our main driver has been serving the textile industry with fully integrated transport and warehousing solutions as well as integrated B2B and C2C solutions, and this has certainly proved a very successful development. Over the last few years we have also added new businesses with industrial segments as well as for instance the toy industry, but to expand in these new segments would require significant investments, or a new ownership by a partner with other assets.
-Prime Cargo's focus on the textile industry entails, however, strong seasonal variations, and a more continuous rhythm would clearly be preferable. Our Japanese partner will bring in its business in the automotive industry as well as hi-tech industries, and combined this will lead to new opportunities for both parties
-Mitsui-Soko has built up leading-edge expertise in the transport and logistics services in Japan and in the South-East Asian markets, and ranks among the top providers in this respect, says Mr Nielsen.
-We are aware that Mitsui-Soko has been talking to other parties in their search for a partner to realize their plans for a European expansion, so were are very encouraged by having been selected, says Morten Nielsen, Prime Cargo CEO.
-On our side, it has been clear to our Danish owners that sustained growth by Prime Cargo would require seeking new owners outside the Scandinavian environment, and in this perspective our new Japanese owner is a prime choice.
-So far our main driver has been serving the textile industry with fully integrated transport and warehousing solutions as well as integrated B2B and C2C solutions, and this has certainly proved a very successful development. Over the last few years we have also added new businesses with industrial segments as well as for instance the toy industry, but to expand in these new segments would require significant investments, or a new ownership by a partner with other assets.
-Prime Cargo's focus on the textile industry entails, however, strong seasonal variations, and a more continuous rhythm would clearly be preferable. Our Japanese partner will bring in its business in the automotive industry as well as hi-tech industries, and combined this will lead to new opportunities for both parties
-Mitsui-Soko has built up leading-edge expertise in the transport and logistics services in Japan and in the South-East Asian markets, and ranks among the top providers in this respect, says Mr Nielsen.