Cosco Shipping acquires Italian logistics player Trasgo

PRESS RELEASE

Cosco Shipping has announced the acquisition of Italian logistics supply chain company Trasgo via Coscos Srl, the joint venture between Cosco Shipping Europe and Fratelli Cosulich.

Established in 1981 in Novara, Trasgo with 14 warehouse facilities offers a wide range of services including transport, warehousing, customs operations, goods handling, trade fair logistics and direct management of warehouses at customer facilities.

Augusto Cosulich, chairman of Fratelli Cosulich said: “It’s time to underline that it is possible to grow together with established partners, but entrepreneurs need to be open to invest their resources. Coscos is the result of our long-standing relationship with one of our closest business partners for more than 30 years. Trasgo provides a robust response to the changing logistical needs, and innovation is enabling us to provide our customers with real solutions.”

Anna Ida Russo, managing director of Trasgo, said: “Trasgo has developed a lot, especially in the last fifteen years. We have made this decision, carefully evaluated and considered, because we are convinced that Coscos group, driven by the same principles and values, will be the right partner to allow Trasgo and its entire “family”the deserved further development.”

The acquisition advances Cosco Shipping to a new level to develop digital supply chain in Italy and European region, commented Cosco Shipping.