Acquisition of On Time Logistics Holding Ltd (OTX Logistics)
Earlier this week (8 May 2017) On Time Logistics Holding Ltd., the group that OTX Logistics belongs to, has been taken over by YTO Express Group Co. Ltd., a leading provider of Express Services in China.
The Shanghai-based YTO is backed by investors Alibaba Group Holdings and Yunfeng Capital. By acquiring the International Freight Forwarding organization of the On Time Group, YTO makes a big step in their pursuit of international expansion.
YTO has contractually agreed not to interfere with our business operations. Accordingly, registered names remain unchanged, as well as the On Time / OTX management team, business model and organizational structure.
We (OTX) expect that this acquisition also brings favourable prospect in terms of our services: synergy and larger scale of our organization will improve our negotiating position with carriers, boost our expansion policy in Asia and strengthen our service packages. As an example, the solid position of YTO in the Chinese Logistics industry will offer opportunities in the field of eCommerce fulfilment in China. OTX Logistics is looking forward to explore these potential opportunities.
In our opinion, this acquisition is a promising development for both OTEL/OTX and for our customers.
For more information:
OTX Logistics BV
Dennis de Wit or Astrid Kalshoven