ITL Corporation completes acquisition of Sotrans Group
ITL Corporation completes acquisition of Sotrans Group
Indo Trans Logistics (ITL) Corporation today announced the successful acquisition of South Logistics JSC (Sotrans Group), raising its ownership ratio to 97 per cent.
The acquisition of Sotrans Group will bring greater values and enhance the position of ITL Corporation
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Dang Doan Kien, vice president of Investment Division at ITL Corporation said that, “ITL Corporation's acquisition of Sotrans Group will be the perfect marriage pooling the capabilities of a leader in the aviation market and a leader in port, port logistics, and inland container depots. The combination of these two businesses will bring our customers the practical benefits and added values by our integrated, diversified, and cost-optimised Logistics services."
ITL Corporation was set up in 2020. After 20 years of development, it has become a leader in providing integrated logistics services in Vietnam and Indochina. In particular, ITL is leading aviation services in the Indochina region, representing more than 22 airlines and transporting goods on more than 300 flights every week. The company also supports local companies to develop their business to international markets with integrated logistics services, including air, sea, rail, ground, multimodal transportation, and customs clearance.
Sotrans Group was established in 1975. It is one of the leading companies in international freight forwarding, import-export freight forwarding, and multi-functional warehouse services in Vietnam with an area of over 230,000 square metres. In particular, Sotrans Group focuses on port and port logistics and owns a port system including Sotrans ICD, Sowatco Long Binh port, and Depot Sotrans My Phuoc. It is currently a leading expert in warehousing, port, and port logistics in Vietnam and the region.
“ITL Corporation's goal is to bring the best integrated logistics services to our customers. We will also maintain the dual brands strategy to utilise the resources and strengths of the two businesses to better meet the diverse needs of customers in the market, contributing to the development of ITL customers as well as the economy of Vietnam," he added.
On the same note, Dang Vu Thanh, general director and member of the Management Board of Sotrans Group, said, “We welcome ITL Corporation's investment in Sotrans Group and we are honoured to become a member of ITL Corporation. I believe that with the dual brand strategy and the combination of our assets, the networks, technology, and highly skilled human resources of the two businesses will create an integrated logistics corporation that can compete with large international brands, providing a full package of better products to our domestic and international customers and so contributing significantly to the development of the logistics industry in the country and in the region."
The successful merger with Sotrans Group, one of Vietnam's top 3 logistics services providers, is a result of a consistent investment strategy and the persistent pursuit of ITL Corporation's goals for the past five years. From now on, ITL Corporation and Sotrans Group are working as one towards the goal of National Champion and to affirm the position of ITL Corporation as a leader in integrated logistics solutions in Vietnam and the region.
