BTL Logistics Signs Agreement to Acquire 70% Stake
Domestic industrial materials distribution specialist iMarket Korea (CEO Nam In-bong) announced on the 17th that it has signed a contract to acquire a 70% stake in international transportation specialist BTL Logistics (BTL, CEO Kim Chang-ho).
Founded in 2007, BTL Logistics is a comprehensive logistics company operating 8 overseas subsidiaries and 2 domestic logistics centers based on international transportation. Through this acquisition, iMarket Korea plans to provide a global logistics service by integrating local logistics infrastructure established in key overseas hubs such as Vietnam, China, the United States, and Hungary with international logistics into a single network. In particular, it will accelerate the expansion of logistics infrastructure in the North American market, including the 2.6 million pyeong industrial complex currently under development in Taylor, Texas.
BTL Logistics expects to have a positive impact on growth by handling the international logistics execution of iMarket Korea, which recorded overseas sales of over 600 billion KRW last year. Nam In-bong, CEO of iMarket Korea, said, "We expect synergy in the newly challenged logistics business area based on the competitiveness that both companies have held so far," adding, "Through this acquisition, we will not only strengthen our global logistics competitiveness but also contribute to BTL Logistics growing into a leading domestic comprehensive logistics company achieving 1 trillion KRW in sales within the next 10 years."
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