FedEx agreed to pay TNT Express $4.8 billion to acquire all of TNT's shares, the companies said in a press release (here). The deal would "transform FedEx’s European capabilities and accelerate global growth," it said. The companies expect the deal to close in the first half of 2016 and "are confident that anti-trust concerns, if any, can be addressed adequately in a timely fashion."
Revenue from customs brokerage services at Expeditors International rose 8 percent in 2014 over the previous year to over $1.6 billion due to “increased volumes from existing and new customers,” according to the company’s annual 10-K report recently filed with the Securities and Exchange Commission (here). However, the company only saw a 4 percent increase in net revenue from customs brokerage services due to a 12 percent increase in brokerage-related expenses in 2014, it said.
Amber Road bought ecVision, "a cloud-based provider of global sourcing and collaborative supply chain solutions for brand-focused companies," said Amber Road (here). Amber Road will pay $24 million, with a potential for an additional $9 million over the next two years based on revenue milestones and employee retention, it said.
Expeditors and CBP will work together on a number of coming roundtables to discuss preparation for the Automated Commercial Environment (ACE), said Expeditors in a press release (here). CBP will hold a number of such roundtables around the country ahead of the Nov. 1 deadline for required use of ACE for entry summary and cargo release information.
The National Small Business Association and Livingston International signed a partnership agreement that will give the association's members access to Livingston's services, said Livingston in a press release (here). "NSBA members now have access to benefits including customs brokerage services to help them clear their goods across international borders, solutions to keep them compliant with trade regulations and avoid penalties and risks, and tools and resources to navigate the complexities of international trade," the company said. "The suite of products will be flexible and scalable for members as their businesses grow." The partnership "allows our member businesses access to a partner who specializes in international trade and is focused on protecting the interest of their clients as they enter new growth markets,” said Todd McCracken, president of the NSBA.
Canadian customs brokerage Farrow bought CK Logistics, a San Antonio-based brokerage, Farrow said in a Jan. 2 press release (here). CK Logistics, which will be rebranded to Farrow U.S. within 18 months, has locations in San Antonio and Houston, the release said. "This acquisition provides us with a strong presence in the U.S. southwest, one of the fastest growing markets in the U.S.," said Richard Farrow, CEO of Farrow. "Further, it provides us with a local presence for some relatively new large volume clients in the region." The purchase price wasn't disclosed.
FedEx agreed to buy third-party logistics company Genco for an undisclosed amount, the companies said Dec. 15 (here). Genco specializes in "reverse logistics, providing triage, test and repair, remarketing and product liquidation solutions," the companies said. "As e-commerce continues to grow, customers of both companies will reap the benefits from the broadened capabilities and powerful new services,” said FedEx CEO Frederick Smith. The deal, expected to be completed in 2016, is subject to U.S. and Canadian regulatory closing conditions, the companies said.
DHL's Customs Brokerage groups "are working to assist importers and exporters to become aligned with the United States’ 'Single Window' International Trade Data System (ITDS)," the company said in a press release (here). "Importers and exporters are going to need guidance on this new electronic interface that will be carried out in phases by the U.S. government," said DHL. The company's combination of supply chain management and customs experience make for a useful tool, it said.
The American Apparel & Footwear Association (AAFA) published the 15th edition of its Restricted Substances List (here), which provides information on regulations and laws that restrict or ban certain chemicals and substances in finished home textile, apparel, and footwear products around the world. The AAFA generally releases the list every six months. “The AAFA Restricted Substances List has assisted the industry in creating an even safer and more sustainable supply chain," said Juanita Duggan, the group's CEO, in a press release (here).
CBP approved OHL's request for Customs-Trade Partnership Against Terrorism (C-TPAT) participation, the company said in a press release (here). The validation comes after the company submitted a security plan in 2013, it said. The company said the validation process was rigorous and included the vetting of OHL customers and vendors.