Con-way Unit Buys Singapore Logistics Firm
Reuters
2007-06-07

CHICAGO, June 7 (Reuters) - Trucking company Con-way Inc. (CNW.N: Quote, Profile, Research) said on Thursday that its logistics unit has agreed to buy Singapore-based Cougar Logistics Corp. Ltd. for $33.9 million.

San Mateo, California-based Con-way's unit Menlo Worldwide, LLC, will pay $28.2 million in cash for Cougar and will assume $5.7 million in debt as part of the deal.

Cougar Logistics Corp. Ltd.'s main subsidiary, Cougar Express, provides freight forwarding, warehousing and logistics in Southeast Asia, with facilities and operations in Singapore, Malaysia and Thailand.