Germany’s Rieck Logistics Group has taken over a 45 per cent stake in TANDEM Holding with the Hong Kong company acquiring a 51 per cent share of Rieck Sea Air Cargo Shanghai (RSACI).
This new company TANDEM Rieck Shanghai Co. Ltd, which, in addition to the headquarters in Shanghai, has nine other branches in China.
“With these two transactions, we are strengthening our global commitment and especially our China business,” said Managing Partner of the Rieck Logistics Group, Philipp Strenge. “In the future, we will benefit even more from Indo-Pacific and trans-Pacific trade for the benefit of our customers.”
Independent logistics companies work together under the TANDEM brand umbrella, offering air and sea freight services as well as logistics solutions for global supply chains. The network is represented in more than 80 countries with 200 offices.
Rieck Logistics Group was one of the founding members in 2007, is a shareholder in the international network and, with RSACI, is the exclusive partner company for Germany.
In the new corporate structure of TANDEM Holding, Rieck Logistics Group and American CH Powell Company now each hold 45 per cent of the shares, while the Japanese Azuma Shipping has a ten percent stake. The management is made up of one representative from each shareholder.
“With this transaction we are sending a clear signal for our global entrepreneurial commitment,” said Philipp Strenge. “TANDEM Holding acts as an investor for the three partners for the operational business in Hong Kong and is involved in the operational companies in India and China.”
With this new structure, volume and sales have doubled, Strenge said.
“This will have a beneficial effect on the purchasing of capacity from carriers.”
In other news, Global freight forwarder, Dimerco, has opened its second bonded warehouse within the Taiwan Taoyuan International Airport