JVK International Movers Ltd, a subsidiary of Thai listed logistics firm JWD InfoLogistics Pcl, has acquired a marine and air logistics service provider Ocean Air International Co Ltd for 23 million baht (around $688,000).
As part of the deal, JWD also brought in the management team with expertise in freight forwarding under its fold.
“This acquisition will transform JWD into a total logistics solutions provider with capabilities to provide international sea freight and airfreight services in addition to the existing inland logistics and warehouses services,” said JWD’s chief executive Charvanin Bunditkitsada.
Ocean Air International reported average revenue of 120 million baht for the past three years and its net profit margin is between 10 to 15 per cent, higher than the industry’s average. Due to this acquisition, JWD expects the revenue in 2018 will surge 10 per cent from the projection of 2.4 billion baht this year.
JWD was reported that it was working on two more acquisitions in Vietnam and Indonesia as part of its plan to become a regional player in the next three years.
“We aim at increasing our overseas revenue proportion from about 12-15 per cent this year to 25 per cent in 2020,” he cited.
JWD has aggressively expanded its network and customer base in Laos, Myanmar, Vietnam and Indonesia to serve the rising of trading volume across borders in Southeast Asia, he added.