Menlo Worldwide Announces Major Expansion in China with Acquisition of Shanghai-Based 3PL Chic Holdings Ltd.
Reuters
2007-09-09

NEW YORK, Sept 9 (Reuters) - Menlo Worldwide LLC, the global logistics subsidiary of Con-way Inc (CNW.N: Quote, Profile, Research), said on Sunday that it had purchased Chic Holdings Ltd. for $60 million in cash and an undisclosed future amount.

Chic Logistics, a Shanghai-based subsidiary of Chic Holdings, provides logistics and transportation management services in China.

The combined company will have over 1,500 employees in China operating in 79 cities with nearly 180,000 square meters of warehouse space under management, according to Menlo.

San Mateo, California-based Menlo bought Singapore-based Cougar Logistics Corp. Ltd. for $34 million in June. Cougar provides freight forwarding, warehousing and logistics in Southeast Asia, with facilities and operations in Singapore, Malaysia and Thailand.