Toll aquires Logistic Distribution Systems
Toll Holdings Limited (TOL) announced the acquisition of Dubai based international freight forwarding company Logistic Distribution Systems (“LDS”). Toll said LDS provides an integrated international sea and air freight forwarding service as well as transport and logistics services.
The company added that LDS serves the import, export and trans-shipment requirements of retail, trading, industrial and infrastructure customers throughout the UAE, with strong volumes in the key European and Asian trade lanes.
Toll’s managing director, Paul Little, said the acquisition enhances the company’s xisting operations in the Middle East and is also consistent with its growth strategy.
“The capability and positioning of LDS as a quality freight forwarder in the trade lanes between Dubai and Europe / Asia Pacific is attractive to Toll and when combined with our existing operations helps to secure a global trans-shipment hub for freight movements between Europe and Asia for TGF,” Mr Little said.
“Into the future, LDS will also provide Toll Global Forwarding with a platform for strong growth in the broader UAE and Middle East region.”
Toll said LDS currently generates revenues of approximately A$50 million, with 60% of the revenue generated from air and sea freight forwarding and the balance from customs clearance and other logistics services.
At the close of trade Thursday, Toll shares were trading at $8.14.
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