ITL Corporation Completes Acquisition Of South Logistics JSC (Sotrans Group)

ITL Corporation Completes Acquisition Of South Logistics JSC (Sotrans Group)

 

August 18th, 2020, ITL announced the successful completion of its acquisition of South Logistics JSC (Sotrans Group) for 97% takeover, officially merging the two businesses into one ”home”. This merger will be the perfect piece to make a completed Logistics ecosystem of ITL and being an important milestone on our journey to conquer the National Champion destination – A leader in Transportation, Logistics, Warehousing services in Vietnam and in the region to continue to provide our customers and partners with the integrated, diversified and cost-optimized Logistics solutions, contributing to bringing more values to Vietnam’s Logistics industry.

ITL Corp has built the foundation for this merger since September 2015 and has persisted in pursuing this goal during the past 5 years. Mr. Dang Doan Kien, Vice President of Investment Division said: “ITL Corp’s acquisition of Sotrans Group will complete the perfect piece in leveraging the capabilities of a leader in the aviation market and a leader in port, port Logistics and ICD. The combination of these two businesses will bring our customers the practical benefits and added values by our integrated, diversified and cost-optimized Logistics services”.

The merger and acquisition of Sotrans Group at this time will bring greater values and enhance the position of ITL Corp when it owns a strong Sotrans brand in the market with a strong operating system built from the 1970s and the asset platforms including sea ports, river ports, inland waterway and barges , ICD, warehouses, …

ITL will maintain a Dual Brands strategy to utilize the resources and strengths of the both businesses. This strategy aims for comprehensive cooperation in the services that ITL and Sotrans Group are operating and leading in the market such as: Air Freight, International Freight, Inland Transport, Distribution Center, Port and Port Logistics, ICD …, utilizing the capacity and experiences of the two businesses to develop an integrated logistics service chain network to provide our customers and partners with diversified, completed Logistics solutions and cost optimization.

“ITL Corp‘s goal is to bring the best integrated Logistics services to our customers. We will also maintain the Dual Brands strategy to utilize the resources and strengths of the two businesses to better meet the diverse needs of customers in the market, contributing to the development of ITL customers as well as the economy of Vietnam”, Mr. Dang Doan Kien added.

In the context of an increasingly strong M&A trend among companies in the Logistics industry, the cooperation between the two leading domestic Logistics businesses in Vietnam has created a great echo in the market, the combination between the two sides is expected to create a resonant strength, maintaining the leading position of ITL Corp in the Logistics market and be strong enough to compete with large Logistics companies in the world.

Mr. Dang Vu Thanh, General Director, a member of Management Board of Sotrans Group said: “We welcome ITL Corp’s investment in Sotrans Group and we are honored to become a member of ITL Corp. I believe that with the dual brand strategy and the combination of the assets, the systems of network, technology and highly skilled human resources of the two businesses will create an integrated Logistics Corporation that can compete with large international brands, contributing to providing better products with the whole package to our domestic and international customers, contributing significantly to the development of the Logistics industry in the country and in the region.”

The successful merger of Sotrans Group, a business in the Top 3 of Vietnam’s Logistics providers, is a great achievement of ITL Corp. This is the result of our investment strategy and persistent pursuit of our goal for the past 5 years. From now, ITL Corp and Sotrans Group become one “home”, sharing the goal of National Champion and working together to affirm the position of ITL Corp as a leader in integrated Logistics solution in Vietnam and the region.

Congratulations to ITL Corp and Sotrans Group! Wish the two businesses greater success to achieve more achievements, supporting for reaching our goal of National Champion.

*About Sotrans Group:
Sotrans Group was established in 1975. It is one of the leading companies in international freight forwarding, import-export freight forwarding and multi-functional warehouse services in Vietnam with an area of over 230,000 m2. In particular, Sotrans Group focuses on port and port Logistics and owns a port system including Sotrans ICD, Sowatco Long Binh port and Depot Sotrans My Phuoc and currently  being a leading expert in warehousing , port and port Logistics in Vietnam and the region.