China Merchants eyes deals in logistics
January 30, 2014 Category Logistics, Logistics industry
China Merchants Group will take advantage of merger and acquisition (M&A) opportunities in China’s fragmented logistics and infrastructure sector as local governments deleverage, said company Chairman Fu Yuning. “There will be lots of mergers and acquisitions in the logistics industry in China as oversupply will lead to industry consolidation,” said Fu, who is also the Chairman of Hong Kong-listed China Merchants Holdings (International) and China Merchants Bank. There are over 100,000 logistics players in China but there is a lack of major players with advantages of scale. China Merchants’ logistics arm will expand its services to upstream and downstream customers, Fu said. Over the past 20 years, China Merchants has established a network to support nationwide sales outlets for brands like Tsingtao Beer, Coca-Cola and Procter & Gamble. It is now aiming to further develop supply chain services for manufacturers as well as last-mile delivery services, which have received a big boost because of the enormous growth of e-commerce. With the recent acquisition of a minority stake in SF Express, one of the major courier companies in China, China Merchants is seeking to leverage the e-commerce boom.
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