JWD Acquires Ocean Air Int’l to Penetrate Freight Forwarding Market, Become Leading 'Total Logistics Solutions Provider’

พุธ ๐๔ ตุลาคม ๒๐๑๗ ๑๔:๓๕
One of JWD's subsidiaries has acquired 100% shares in Ocean Air International, a freight forwarder, and its executives, and thereby become a leading 'Total Logistic Solutions Provider', ready to offer new services to JWD's existing customers of overseas household and office moving, hazardous goods storage, LCL Consolidation Hub and Free Zone warehousing, automotive-related and cold storage services as well as introduce JWD's warehousing and transport services to freight customers both locally and internationally. The target firm's management described the acquisition as a win-win deal that will mutually expand customer bases.

Mr. Charvanin Bunditkitsada, Chairman of the Executive Committee and Chief Executive Officer (CEO) of JWD InfoLogistics Public Company Limited (JWD), a leading 'Total Logistics Solutions Provider', revealed that JVK International Movers Ltd, a subsidiary of JWD, has acquired 100% ownership of Ocean Air International Co Ltd, a Thai freight forwarder firm that specialises in international sea freight and airfreight services, to expand its businesses. The THB83m deal, he said, will lead to the target firm becoming a new subsidiary of JWD and transform JWD into a so-called 'Total Logistic Solutions Provider', with capabilities to provide marine and air logistics services in addition to the existing inland logistics services.

As part of the deal, JWD has acquired a management team with expertise in freight forwarding who will help enable it to provide 'Total Sales Solutions' as a one-stop service centre. For the inbound segment, it will be able to offer a comprehensive range of services, including freight forwarding, customs clearance, cargo transport and warehousing and cargo delivery. For the outbound segment, it will be capable of providing cargo transport, warehousing, handling (eg repackaging), customs clearance and freight forwarding services.

JWD will also enhance its competitiveness by offering freight forwarding services to its existing customers in i) the hazardous goods storage and management segment (for which it has the opportunity to offer freight services because of a concession granted to it to manage and handle more than 150,000 hazardous cargo containers per year that enter or leave Laem Chabang Port); ii) the Less Container Load (or LCL) Freight Consolidation Hub segment (to add conveniences to the customers) and free zone warehouse; iii) the segment involving automobiles and automotive parts for import and export; iv) the cold storage segment (for which its Free Zone cold storage warehouse at Bangna-Trat KM 19 will be upgraded to be a multi-country consolidation hub (or MCC) for storage of imported cargo for reexport); and v) the overseas household and office moving segment (for which it secured third-party freight services).

The CEO added that, after completion of the acquisition, JWD will realign its business by having JVK International Movers Ltd perform both household and office moving and freight forwarding services and led by Mr. Terapol Klayoo, Chief Executive Officer of Ocean Air International Co Ltd, and will explore further opportunities to invest both locally and internationally in order to continue its expansion in airfreight and sea freight forwarding business.

"This takeover is a strategic move to enter freight forwarder business that will allow us to provide logistics services for all modes of transport, including air transport and sea transport, offering 'Total Solutions' and great convenience to our customers. We believe that JWD's backgrounds as a provider of inland logistics and warehousing services, which involve complex business environments and require specialised knowledge and skills, will add the company advantages in raising the number of customers and delivering seamless services," noted he.

Given JWD's impressive nine-month results, he is confident that the company's 2017 full-year growth rate will reach the target level of 7%. The company's Q2 net profit stood at THB49.5m, up 551% y-o-y from THB7.6m and up from THB40.3m (the company's share) q-o-q. The company's rental and service revenues reached THB577.8m, up THB 557.6m y-o-y and up THB572.8m q-o-q.

Mr. Terapol Klayoo, Chief Executive Officer of Ocean Air International Co Ltd, commented that Ocean Air International Co Ltd has 20 years' experience in operating as a freight forwarder company, with sea freight customers accounting for 70-80%, and airfreight customers 20-30%, and owns a management team who possess extensive experience and expertise in the business. His company, among other things, provides freight forwarding services to customers in several industries who ship goods to Europe, United States, Australia, Israel, China, Indonesia, India and Vietnam both Full Container Load and Consolidation. The Company is the Official Freight Forwarder of THE BANGKOK INTERNATIONAL MOTOR SHOW specialized in EXHIBITION CARGO and automotive industry namely Bangkok International Motor Show and Bangkok International Motor Expo.

For the past 3 years, the average total revenue figure of Ocean Air International Co Ltd is approx THB120m and the company's net profit margin ratio is 10-15% which is outstanding compared with the industry's average ratio. The acquisition of its business through JWD's subsidiaries is a win-win deal as it will benefit from an immediate opportunity to offer freight forwarding services to JWD's existing customer base and JWD will be able to provide a more diversified and comprehensive range of services as well as introduce warehousing and inland logistics services to its customers.

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