Toll Global Forwarding’s Asia strategy has China as its lynch pin said its chief executive officer.
Toll Global Forwarding (TGF) has completed the integration of BALtrans Logistics Worldwide that its parent, Toll Holdings, acquired in early 2008. The new Asian forwarding and logistics operations will be used as a platform to strengthen its network.
Cushing told reporters the Hong Kong-based TGF was well represented in China. He aaid, ‘The vast majority of traffic is China outbound and we service it reasonably well. We plan to grow significantly and have a much higher market share, so China is absolutely essential to our plans. It is the lynchpin for our Asia business.’
Cushing conceded that growing organically in such a highly competitive market would be slow, so the forwarder would be looking for acquisitions.
Cargonews Asia reported him as saying, ‘So our growth strategy is to have new customers driving volumes. Acquisition is key to secure business, although the bulk of that acquisition activity will not be in Asia but in Europe or North America, the destination markets.
“If we can find any suitable candidates in Asia, we will.’
Toll is a leading provider of integrated logistics services in Asia, generating annual consolidated revenue of US$3.6 billion and operating an extensive network of more than 700 sites in 45 countries across the world.
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