Thursday, 28 July 2016
ECS Flexes Its Muscles in Southeast Asia
The global sales and service agent European Cargo Services (ECS) has acquired a majority stake in Southeast Asia's AVS GSA Group for an undisclosed amount, thus strengthening its position in that regional market. In a joint statement, the partners speak of common interests and their ambitions to knit the world-spanning network of ECS even tighter. AVS GSA is the latest name standing on the long acquisition list of ECS in its stride to take the pole position in the race to become the world's leading cargo sales agent. The integration of the Southeast Asian firm is a decisive step in ECS's long-term strategy to penetrate growth markets even further. Mandate airlines benefit particularly in two ways: they not only get services based on equal standards but can gain additional revenues by capitalizing on shipments shifted on behalf of ECS from one of their client carriers to another when transferred at mutually served hubs. According to the treaty, ECS acquires a 70 percent stake in AVS GSA putting the French investor in command, with former proprietors Thomas Ong (CEO of AVS GSA) from Singapore and his Bangkok-based partner Monchai Jirakiertivadhana holding the remaining share. AVS GSA runs offices in nine Southeast Asian countries and India, thus widening the reach of ECS particularly in emerging economies and their fast growing air freight markets.
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