April 27, 2024

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[THE INVESTOR] CJ Logistics said on July 30 it is considering investing in overseas companies to expand its global presence.

“We are reviewing various partnerships, joint ventures and investment opportunities with foreign logistics firms in order to boost our business competitiveness and make a leap to become a global logistics company,” it said in a regulatory filing, while adding that nothing has been decided in detail yet.

The announcement followed rumors that the Korean firm is pushing to purchase German logistics firm Schnellecke.

CJ Logistics has been accelerating its overseas drive, carrying out mergers and acquisitions in China and Southeast Asia, including Malaysia, Indonesia and Vietnam.

Last month, the company signed a deal to purchase a 90 percent stake in US-based DSC Logistics for 231.4 billion won (US$216 million).

By Song Seung-hyun and newswires (ssh@heraldcorp.com)