Yusen sees opportunity with Hitech acquisition

Japan-based freight forwarder Yusen Logistics has acquired Australian sensitive-freight specialist Hitech Asia-Pacific for an undisclosed sum. This move will assist Yusen in its quest to diversify into the high-technology industry, where Hitech already has a presence.

Some of Hitech’s customers include Canon, Siemens, GE, Philips and Device Technologies, which will now be served by Yusen. Another benefit of the acquisition for Yusen, is the ability to reach into the medical and business equipment sectors. “Hitech’s skills in sensitive freight are highly complementary to Yusen’s international capabilities,” said Ian Pemberton, the managing director of Yusen Logistics.

Yusen said it expects that its total revenue will increase to more than US$150 million and its employee base to climb to approximately 560 people. Yusen Logistics is part of the NYK Group, headquartered in Japan, operating in 38 countries, with a total global warehouse capacity of about 3.5 million square feet.