Agility Announces Conditional Agreement to Acquire Leading Shenzhen-Based Ocean Freight Forwarder

HONG KONG, June 4 /PRNewswire/ -- Agility, a leading global logistics provider, has signed a conditional agreement to acquire Cosa Freight, a full service ocean freight forwarder with offices in six key locations in China and a presence in Hong Kong, USA, and Canada. The acquisition will further strengthen Agility's network capability in China and increase the range of services on offer in major trading and manufacturing centres across the country.

Cosa Freight has a particular strength on the Trans-Pacific trade and is very strong in providing a full range of services to the retail sector, including origin consolidation/upstream inventory management programs in China and warehousing, trans-loading, and delivery in the USA. With a staff size of over 200 and 6 offices in China its network will be a significant addition to Agility's ability to offer customers the services they require.

"We are committed to strengthening our network in China and other strategically important countries in the region and also expanding our range of freight and logistics services throughout the country in order to better meet customer demand. The acquisition of Cosa Freight will help us achieve those goals," said Wolfgang Hollermann, Chief Executive Officer, Asia Pacific for Agility.

"Cosa Freight adds first-class capabilities to Agility in China and is an excellent fit to our existing network. Their ability to provide multi-country consolidation and value-added services, such as direct-to-store programs, for customers in the USA will allow us to further strengthen and extend our product offerings," said James Gagne, Chief Executive Officer, Greater China Area for Agility.

Commenting on the agreement, James Zhang, President of Cosa Freight said, "The acquisition by Agility will enable Cosa Freight to expand its outlook on a global scale and focus on much greater growth opportunities. We already have a strong position in China and we will now be able to share and leverage Agility's global network and resources to improve our position and add further capability to serve Agility's customers in China."

Cosa Freight was established in Shenzhen in 1998 and is a licensed freight forwarder and NVOCC, providing local transportation throughout China, bonded warehousing, buyer consolidation services, international freight FCL/CFS services, Customs clearance, documentation, inspection and insurance brokerage. Cosa's value-added services include billing, cash collection & banking, kitting, packaging & repacking and reverse logistics.

About Agility

Agility is a leading global logistics provider with more than 32,000 employees, and over 550 offices in 100 countries around the world. A publicly traded company, with over US$6 billion in annual revenue, Agility has three key operating units -- Global Integrated Logistics (GIL), Defense & Government Services (DGS) and Investments.

We focus on offering customers truly personalized service and flexible supply chain solutions tailored to meet their individual business needs, supported by a comprehensive network of warehousing facilities, transportation and freight management services. We also believe that we have responsibilities that extend beyond our commercial operations, as we are a worldwide network that is able to partner with local communities. Our contributions ensure the growth of our people, our business, and the future.

For more information about Agility, visit http://www.agilitylogistics.com