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Hong Kong-based EV Cargo has made its second foray into the European freight market this year with the acquisition of a controlling share in the family-owned Spanish forwarder Air Express.
In March, EV Cargo acquired the Dutch forwarder Fast Forward Freight, and with the company looking to achieve its stated goal of surpassing $3bn in revenues by 2025, the acquisition of 75% of Air Express will go some way to helping the company reach its target.
Rebranded EV Cargo Spain, Air Express will offer a gateway into new logistics sectors, including marine engineering, aerospace and automotive logistics.
Air Express founder and CEO Francisco de la Sita, who still owns a 25% share of the rebranded entity, will head EV Cargo Spain.
EV Cargo now boasts 20 European offices and more than 37,000 sqm of warehouse space in The Netherlands, Belgium, Germany, Poland, France, Switzerland and Greece.
Mr de la Sita said that becoming a part of EV Cargo will drive growth and allow the company to run expanded services.
“EV Cargo’s global infrastructure, technology capabilities and international freight network will create new and immediate opportunities across different trade lanes, particularly between Spain and South America,” added Mr de la Sita.