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NYK to take total control of Yusen
[ October 31, 2017 // Chris ]Japan’s NYK shipping and transport group is to acquire the remaining 41% stake of its freight forwarding subsidiary, Yusen Logistics, that it does not own. It plans to complete the transaction by the end of March 2018. NYK Group foresees the creation of two main business ‘pillars’, namely air/ocean freight forwarding and contract logistics, to meet customer demands for total logistics solutions. The merger would also improve collaboration through the common use of information, technology and systems and boost investment by sharing NYK’s financial strength and creditworthiness.