Taiwan-based Dimerco Express Group has announced a joint venture with a 25% investment in Swedish public company Elanders Group’s German subsidiary ITG Air & Sea GmbH, effective Jan. 1, 2020. The subsidiary investment is intended to allow both companies to expand their 25-year-long business cooperation in support of growing their respective global operations.
ITG Air & Sea GmbH was originally launched on Nov. 1, 2019, and is a spin-off of Munich-headquartered ITG Gmbh International Spedition + Logistik (ITG). IGT Air & Sea GmbH now manages the German air and sea freight divisions formerly overseen by ITG to enable ITG and its German parent company Logistics Group International (LGI) to focus on enhancing their integrated logistics services in Asia. Both ITG and LGI host headquarters in Germany and are part of the Elanders Group.
For Dimerco, its investment in the new ITG Air & Sea GmbH is aimed at expanding the Taiwanese freight company’s business and global presence by allowing it access to the networks of Elanders Group and its subsidiaries ITG and LGI. Dimerco also anticipates the investment will help it improve service capabilities across its own global networks.
Dimerco’s network currently spans across 160 locations in the Asia-Pacific, India and North America. ITG currently operates 12 branches and seven logistics centers in Germany, the Netherlands, the U.S. and Russia, while Elanders’ major service markets include China, Germany, Singapore, Sweden, the United Kingdom and the U.S.
With these current networks in place, the move will likely enable Dimerco to tap into various European markets, with greater access to Asian markets on the horizon as Elanders Group companies further develop their services in the region.